Valued Member
Posts: 68
Registered: ‎09-10-2012
Re: FORGET fico score NOT used by Mtg Lenders

I have applied for a home loan myself before but did not qualify... The information here in this thread does provide insight into what could happen. Personally I do plan on keeping a close eye on the process myself when I am ready to apply. I believe it is possible for a mortgage lender to lie about ones score in order to obtain a higher interest rate but highly unlikely. Both the lender and underwriter would have to be in on it, I believe. Regardless, when the time comes, I will watch the process like a hawk. I plan on conducting my own due diligence on the targeted lender in order to find out if they do use the FICO score and what percentage of DTI they use including length of time in position or industry for income qualification. As far as pulling scores, I would pick one credit bureau to pull all three reports from and couple that subscription with this FICO site. 

You can wrap me in your flag, make me say a praise to your creator and make me spend your currency, but remember this, I am a loyal servant to Justice and a Patriot to none. I am free...