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Double digit credit score drop for talking with mortgage lenders. Help!

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Thomas_Thumb
Senior Contributor

Re: Double digit credit score drop for talking with mortgage lenders. Help!

Fico 8 scores are not used for mortgage loans. To know where you stand, you need to look at Fico so called mortgage scores: EQ score 5, TU score 4 and EX score 2.

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You can get these scores by purchasing a Fico 3B report. My "mortgage" scores are typically 10 to 40 points below my Fico 8 scored depending on the CRA. So - you should know those scores.

 

As an FYI - the mortgage scores are sensitive to # of accounts reporting balances. At least 30 days prior to lenders pulling your score, try to limit cards reporting balances on statements to 1 or 2. The card that does report should be a credit card, not an AMEX charge card.

 

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
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