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"Middle Score"

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Valued Member

"Middle Score"

Hello!

 

I have read on the forums that lenders are using your middle score, does that mean the lowest score doesn't need to fall above their minimums? I am looking to go with FHA but I can also go with Navy Federal Credit Union. My broker looks for a 640 minimum score. My scores are 600, 650, 640. I am still trying to get them up but one has been difficult. Will that 600 not be considered and they will just go with the 640 "middle score"?

Message 1 of 5
4 REPLIES
Established Member

Re: "Middle Score"

That's correct. Lenders will "avoid" the high score as well as the low,  and focus on your middle score.  

Message 2 of 5
Valued Contributor

Re: "Middle Score"

+1, my lowest score is 639 and my highest is 718 (this was the TU score pulled by the lender, which was a different TU score than provided by this site...the TU score provided by this site is 702), my middle score is 703. My lender requirements are 660 and above for the middle fico score so my lowest score doesn't qualify but I am preapproved based on my middle score of 703...currently in UW and hoping to close by the end of the month! :-)
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 3 of 5
Valued Contributor

Re: "Middle Score"

Yeah my lowest scoring report is my EX, coming in at a 640 but my TU score was in the 680s but both reports are the same. Weird thing is that my TU is my highest scoring report but my EQ is my cleanest report.

Message 4 of 5
Established Contributor

Re: "Middle Score"

TU tends to always be the highest, they each use a different algorithm that is why they are all different but if EQ is your cleanest and your middle score you should be fine. 

CS 728- 01/13 from 554-12/11
Goal: 800
Message 5 of 5