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Well went and applied for a mortgage yesterday. Good news: Got pre-approved by USAA UW for 400K loan.
Bad news: Asked what my scores were and was shocked to find that they were almost 40-50 points lower
than the scores I got from MyFico showed. Loan Officer at USAA said that my scores were all right around 700.
I was fairly confident that since MyFico was showing 750+ for EQ and TU that my scores would be
a lot higher. Happy but confused. The fact that the Pentagon Federal Credit Union LO told me
that my EQ score was in the 780's 2 months ago really has me baffled????
Very interesting.....
My scores are lower here, than what my LO pulled.! My TU is about 30 points off and my Eq is 24 points off.
I was confused as well....
@Anonymous wrote:
Well went and applied for a mortgage yesterday. Good news: Got pre-approved by USAA UW for 400K loan.
Bad news: Asked what my scores were and was shocked to find that they were almost 40-50 points lower
than the scores I got from MyFico showed. Loan Officer at USAA said that my scores were all right around 700.
I was fairly confident that since MyFico was showing 750+ for EQ and TU that my scores would be
a lot higher. Happy but confused. The fact that the Pentagon Federal Credit Union LO told me
that my EQ score was in the 780's 2 months ago really has me baffled????
When did you pull your myFICO.com scores? The EQ scores, if pulled on the same day, should have been identical, since most lenders use Equifax's Beacon 5.0 score, which is the same as here. I guess there could be some lenders using the Beacon 9 version. If your scores were pulled on different days, however, there could have been changes in your credit report that made a difference. You might want to take a look at your current credit reports to see if there are any major differences.
There's a high likelihood that the TU score that your lender pulled was the TU 04 version. The TU 98 version is what's sold here. Some people have reported fairly substantial differences (both higher and lower) between TU 98 and TU 04.
Hmm! Eq is usually on the money if pulled the same day as was the case with me and usaa too. My tu fico bought here was 782, but usaa had 765, so I guess they used tu04. A lot can change in two months, so if penfed said you had a 780 eq two months ago, you can't use that premise since fico can even change several times a day depending on information it receives.