@Anonymous, granted I'm not a FICO wizard like some around here are, but I don't think there is such a thing as FICO 6. I'm thinking the "middle" score reported to you by the lender is from the classic FICO Mortgage 5/4/2 model; if I'm correct, you can see your scores via any of the sites which provide you all 28 of your FICO scores.
@Anonymous wrote:Hello!
If anyone has an answer for this, thank you in advance!
I started a year ago with Fico 8 Scores in low 6's, have made good process increasing them and wish to purchase a home soon.
They are now on Fico 8 700, 707 and 703
I know for mortages they would be lower, but when I had lender pull credit to get preapproved, (Guarnateed Rate) my middle score was 673, he said they use FICO version 6. Thats hugely disappointing but I need to get my middle score at least to 680 for a better rate and terms.
I am working on that but is there any where any place I can pay to monitor my FICO 6 Score, without having to have the lender do a pull that can ding score, I looked here and other places and did not see anything.
I have one loan balance, with One Main at 16K paying that off as quickly as I can, but making just monthly payments, all credit cards are paid off with 10 available credit. Any suggestions for increasing score and ability to monitor Fico 6 if that is possible would be appreciated!
Like @Mr_Mojo_Risin and @Horseshoez I am skeptical about the information you have been given. I do not believe there is a FICO 6 score in use. For mortgages they look at TU FICO 4, EQ FICO 5, and EX FICO 2, and go with the middle score.
As stated by everyone else, your lender probably gave you some bad info. Almost all mortgage lenders use FICO 2,4,5, and they literally take the middle score (not an average). There are a couple of options for monitoring these scores monthly that I know of. These scores are very sensitive to new accounts and accounts with balances. Implement AZEO on your revolving accounts, and keep dropping the balance on your personal loan as you are financially able. If all your revolving accounts are reporting 0, there's a fair chance that implementing AZEO will get you those last 7 points you need. If not, you may need to wait a bit until you pay your installment loan down across an installment utilization threshold to get a score bump.
