What score is needed???

Quantarra · ‎06-04-2013

I have been told that in order to get approved for a home loan that I need my score above 640 well I have did that with TU so can I apply???

Fico=642 Exp=680(perCU) TU=660
Goal=anything over my current scores,,,,,,

foofighter74 · ‎06-04-2013

You need your mid-score to be over 640 for a great shot at being approved, provided your income, credit and so forth all qualify as well. If just one of your scores is over 640, it doesn't get you anywhere, unless you go with a lender that will approve at whatever your mid score is.

Quantarra · ‎06-04-2013

So hat is considered your middle score??

Fico=642 Exp=680(perCU) TU=660
Goal=anything over my current scores,,,,,,

Legal_Girl · ‎06-04-2013

Look at all three of your FICO scores and you will have a low score, a mid score and a high score. As an example, If your 3 bureau FICO scores are 616, 635, and 665, then your middle score would be 635 and of course lower than the 640 you are looking for.

Homeowner Again as of July 17, 2014. Thanks to the VA and NFCU. FICOs EQ - 786/EX - 782/TU - 778/Quicksilver $3,500 / Cred 1 $2,875 / 1st Natl $4,250/ Kohls Visa $5k / Mercury MC $5,850 / NFCU Visa Sig Cash Rew $27k/ Lowes $25k / Best Buy Visa $11k/ NFCU LOC $15k / Walmart MC $7.5k / Chase Freedom Unlimited $1,500 / Discover IT $27,000 / Discover IT Chrome $21,500 / Citi DC $7,300 / AMEX Blue Cash Preferred $17,500 / Citi Simplicity $18,500 / Citi Premier $8,200 / Care Credit $10k/ AMEX Gold - NSL / Chase Sapphire Preferred $20,500

Quantarra · ‎06-04-2013

Thank you!!!!!

Fico=642 Exp=680(perCU) TU=660
Goal=anything over my current scores,,,,,,

jadeite788 · ‎06-05-2013

That is correct however that is FICO. When you go to a lender they may use a different scoring system. But it is usually pretty close to what FICO has.

Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750
Take the FICO Fitness Challenge

Davidngo · ‎06-05-2013

640 is the norm now with applications. But it also really depends on your entire personal portfolio. Factors such as employment, income, assets, etc.,.

MyFICO Pulled: (11/28/2012) EQ 635, TU 650, EX 661
Lender Pulled: (12/05/2012) EQ 635, TU 677, EX 641
Lender Pulled: (02/20/2013) EQ 667, TU 661, EX 648
MyFICO Pulled: (05/30/2013) EQ 712, TU 685, EX 686

Finally Hit the 700's as of 06/05/2013!!!