Request FICO Scores before applying for a mortgage??

[Anonymous]

I'm trying to determine if it will be worth the $50 to get my FICO scores before applying for a mortgage.  I currently pay for a credit monitoring service through HSBC's Credit Keeper, which provides scores for all three bureaus.  I am aware that these scores are not FICO scores and are typicially not accurate.  With this monitoring service my scores are Ex 724, EQ 714, and TU 749. I have no late payments and no potentially negative items.  I do have slightly high debt ratios and will discuss those issues with my lender when I apply later this month.  Is it worth it for me to pay the $50 to know exactly what my scores are before I apply?  Or should I just wait and let the lender pull my score for the pre-approval since I will have to pay for the credit report then anyway?

[nicemann]

Well I myself like to know my FICO scores so I would pull them.  FICOS and FAKOs can range big time.  BUT the catch 22 is most lenders will use a "mortgage FICO" and it may vary a little.  Guess it is a different formula.  Choice is yours, just pulling it now would give you a good idea of where you sit.

[DallasLoanGuy]

waste of $50

[nicemann]

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DallasLoanGuy wrote:

waste of $50

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LOL ok.....listen to what Dallas says then. 

[Anonymous]

Despite what Dallas says, I hate surprises & always feel like I am taken more seriously if I walk in already knowing where I stand. I would pay the $50 just so I don't have the wide-eyed, breath-holding moment while the mortgage dude pulls up my scores

But I'm a girl too, so I've already had eff-her attempts by shady car salesman.. I have found I don't get straight answers if I don't walk in ahead of the curve.

[TraumaDrea]

Spend the $50. It was worth it to me my FAKO's were way lower then my FICO's and now I should be closing on my house in July

[Anonymous]

Thanks everyone.  I posted this message on a couple of different money communities and I think I am going to keep the $50 earning interest in my down payment savings account.  I know my credit is good and there is no real reason to pay for my report twice (three times if you count my monitoring service).

[DallasLoanGuy]

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Blackeyes24 wrote:

Thanks everyone.  I posted this message on a couple of different money communities and I think I am going to keep the $50 earning interest in my down payment savings account.  I know my credit is good and there is no real reason to pay for my report twice (three times if you count my monitoring service).

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good move.... you will know your scores for free when you apply.