Re: Is the TU score here accurate for applying for a mortgage
04-05-2012 08:36 AM
I was reading in another thread that the TU score that you get here is a FAKO score now. Is this true? If it is true, how does this effect my chances of getting a mortgage. I was all happy that 3 months ago my scores were in the 620's and now the TU score .is 660. How accurate is that jump. Now I am starting to question if it will be good enough to apply for a mortgage. My EQ score jumped as well from the 620s to the 660s. Worried now that I am not is as good a position as I thought I was just a day or so ago.
myFICO does not offer any FAKO scores. The one you receive here is a real FICO score.
However, the thing to keep in mind is that the FICO formula has been updated many times over the years. The one sold here is TU98. There are two newer versions since then: TU04 and TU08. Most lenders use TU04, but some may still use TU98 or be updated to TU08. That being said, your myFICO TU98 score certainly could be different than your lender pull, which would most likely be a TU04.
Starting Score: FICO: 587 EX, 594 EQ, 632 TU, 2/15/12; USAA FAKO: 525 EX, 541 EQ, 525 TU, 2/15/12
Current Score: FICO: 678 EX, 629 EQ, 658 TU, 3/27/12; USAA FAKO: 721 EX, 721 EQ, 576 TU, 3/9/12
Goal Score: 700 Across the Board and Amex Zync or Costco By The End Of 2012
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