Is there a weighted average of all 3 scores companies use?

[Anonymous]

Hello All, I am trying to clean up my credit and I was told I need at least a 620 to qualify for a mortgage. Well that is all fine and good, but do they generally refer to a single credit agency, or is it some sort of an average of all 3. Obviously different institutions may look work differently, but on average, for a mortgage, do companies just use whichever of the 3 bureau's score is the highest or do they take an average or do they generally just look at the same agency's score regardless of client's situation, my current scores are TU - 538, EXP 508, EQ 622. So with Equifax I would be all set, but not with the other two, and advice on this or how this usually works?

[Anonymous]

Mine was pulled twice and they both used the middle score to determine the interest rate.  I was quoted the same rate by both lenders.

[Tuscani]

Generally no unless it is a mortgage.

[Anonymous]

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alldredget wrote:
Hello All, I am trying to clean up my credit and I was told I need at least a 620 to qualify for a mortgage. Well that is all fine and good, but do they generally refer to a single credit agency, or is it some sort of an average of all 3. Obviously different institutions may look work differently, but on average, for a mortgage, do companies just use whichever of the 3 bureau's score is the highest or do they take an average or do they generally just look at the same agency's score regardless of client's situation, my current scores are TU - 538, EXP 508, EQ 622. So with Equifax I would be all set, but not with the other two, and advice on this or how this usually works?

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Keep EQ up, and get one of the other two to 620 - they take the middle of three.