New Visitor
anna24
Posts: 1
Registered: ‎10-02-2012
HELP!! PLEASE!! -- Refinance of Mortgage & Credit Score

I have always had a good credit rating, or so I thought.  FICO Score is 757 on this website.  However, when I attempt to refinance my mortgage the bank comes back with a score of 711.  

 

When running the credit rating on other websites such as FreeCredit it places me around 771.  

 

I don't understand how the attempt to refinance gives me a higher risk score. 

 

Can anyone please help me understand?!?!

Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
Re: HELP!! PLEASE!! -- Refinance of Mortgage & Credit Score

anna24 wrote:

I have always had a good credit rating, or so I thought.  FICO Score is 757 on this website.  However, when I attempt to refinance my mortgage the bank comes back with a score of 711.  

 

When running the credit rating on other websites such as FreeCredit it places me around 771.  

 

I don't understand how the attempt to refinance gives me a higher risk score. 

 

Can anyone please help me understand?!?!


Which FICO score did you pull on here (EQ? TU?)?

 

Did you pull from the lender and via myFICO at the same time? If not, how much time had passed between pulls?

 

What score was the 711? Was it a mid-score? Could it have been Experian?

 

Other sites like freecreditscore, truecredit, creditkarma, and scores of others offer scores, but none are FICO scores. They are a non-FICO we affectionably call a FAKO. Ignore these scores. 

Established Contributor
gbishere
Posts: 736
Registered: ‎07-07-2010
Re: HELP!! PLEASE!! -- Refinance of Mortgage & Credit Score

do you have really high utilization?

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766