middle score or lowest score which one is it?

[Anonymous]

hello evryone newbie here i have a question....i heard from a loan officer that FHA uses not your MIDDLE score BUT uses your LOWEST score in determining loan approval....is this true? any help would be appreciated thank you an have a blessed day

[Anonymous]

I was told they use your mid score. Now if there are two people on the loan, they will use the lowest mid score. Does that make sense?

[Anonymous]

i was under the impression that your MIDDLE score of the three was used but this LO said that it was in fact your LOWEST of the three...and its got me confused.

[Anonymous]

I guess it's possible that lender uses the lowest score but typically it's the mid score. Maybe you should call some other lenders in your area just for comparison's sake

[Anonymous]

ok so not all lenders use the MIDDLE score is that what your saying?

[Anonymous]

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@Anonymous wrote:
ok so not all lenders use the MIDDLE score is that what your saying?

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I have personally never heard of any lender using anything other than the middle score.  So either the bank/lender you are going with is part of a miniscule minor group who don't use the middle score, or your LO is mistaken.  Call some other banks and find out what they say.

[Anonymous]

Thank you everyone for your insight on my dilemma..i now have a better grasp of the problem..IM definitely going to take your advice!!

[Anonymous]

Thank you, Woopah. That's exactly what i was trying to say

Good luck, sky!

[Anonymous]

Up until Spring, 08 it was always the "low middle" score used.  Starting last spring alot of lenders have started using the lowest score.  *shrugs*  During that time we were getting our house, and it seemed to switch back and forth randomly.