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Experian 08 639. what would lender score be using V2

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Experian 08 639. what would lender score be using V2

Ok my lender pulled my score on the 31st and it was 606 Experian, 605 Equifax, & 636 Transunion. around that time my equifax from myfico was 605 and transunion was 635. The experian model the lender used was Fair Issac V2. I just checked transunion and equifax on the 28th of june. Transunion is 651 and equifax is 630. I just checked my Experian today. My experian score from myfico is 639. and my understanding is that this is the 08 model. I need a 640 for the usda loan from mortgage company. Can anybody here provide any info on whether their Experian FICO 08 score from here was lower or higher than their lender pull score? Or does anybody know at all whether the newer models tend to have higher or lower scores than older models? I know a lot depends on what's on your credit profile and YMMV but i'm just trying to get some type of idea of what i might expect. Any help would be greatly appreciated.


Starting Score: 03/29/2013 540 EQ 05/01/2013 614 TU 05/30/2013 606 EX (Lender Pull)
Current Score: 07/27/2013 639 EQ 07/27/2013 651 TU98 07/27/2013 650 TU04 07/27/2013 617 EX V2 07/27/2013 639 EX 08
Goal Score: 660 EQ 660 TU 660 EX


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Message 1 of 15
14 REPLIES 14
Frequent Contributor

Re: Experian 08 639. what would lender score be using V2

Chris I wish i had a def answer for you but from what i have been reading the Tu and EX score been about 10+/- but once or twice i have seen over 20 +/-. There is really know way of knowing until you get it pulled from your lender. Is there away you can get your lender to do a sp so u can get a general idea where u might be? What have you done to try to improve your score?

Message 2 of 15
Valued Contributor

Re: Experian 08 639. what would lender score be using V2

You could look at the reports you pulled on the 28th and the reports that the lender pulled on the 31st and see if there are any differences in the reporting on the accounts. If not that MIGHT give you an idea of the variance in your individual case between the reports her and your lenders scores. Unfortunately the TU and EX models sold on this site are not what most lenders use. And none of us are privy to the formula tweaks between those models and the others.

 

What you can count on is the basic things that will raise your FICO score no matter what model such as paying down credit utilization if it is above 9%, making sure only one or less than half of your revolving accounts has a balance, and getting negative information deleted. Look at your FICO reports in the section on what is hurting your score. Focus on those factors in order for the biggest gain.

Best financial advice I ever got: "Just imagine what an adult would do and do that."

Starting Score: 500's
Current Score: EQ 701 (FICO) TU 721 (FICO) EX 715 (Quizzle)
Goal Score: 760 ALL


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Message 3 of 15
Regular Contributor

Re: Experian 08 639. what would lender score be using V2

well i'm expecting my experian to be higher than equifax based off my previous pull from lender. my equifax from here is exactly the same model the lender uses which is beacon 5.0 and that score from here is 630. Nothing has changed from my lender pull and the score i've pulled from here. Any collections i were to have removed was removed from all 3 bureaus and the only changes have been accounts being updated to show another month paid.

 

I do have one collection on experian that was removed from equifax but even with that on there my experian was still 1 point higher than equifax. So I know it's a stretch to guess this but i'm assuming with nothing being changed and having all the same collections removed that it would still be higher than equifax. 

 

I can try to goodwill the collection but that could take days or weeks before it would get removed and that's only IF they decide to be nice. I've been added to one of my moms credit cards as authorized user but I have no idea when that will report to the bureaus. It's for belks and I called belks and asked if it could be reported asap and they told me they send in updates to the 3 bureaus everyday. So I don't know when the bureaus will actually add this information. I'm just trying to get this done soon so I can put in an offer for a home we want built before interest rates put my income out of range for the home price.


Starting Score: 03/29/2013 540 EQ 05/01/2013 614 TU 05/30/2013 606 EX (Lender Pull)
Current Score: 07/27/2013 639 EQ 07/27/2013 651 TU98 07/27/2013 650 TU04 07/27/2013 617 EX V2 07/27/2013 639 EX 08
Goal Score: 660 EQ 660 TU 660 EX


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Message 4 of 15
Regular Contributor

Re: Experian 08 639. what would lender score be using V2


@HoldingOntoHope wrote:

You could look at the reports you pulled on the 28th and the reports that the lender pulled on the 31st and see if there are any differences in the reporting on the accounts. If not that MIGHT give you an idea of the variance in your individual case between the reports her and your lenders scores. Unfortunately the TU and EX models sold on this site are not what most lenders use. And none of us are privy to the formula tweaks between those models and the others.

 

What you can count on is the basic things that will raise your FICO score no matter what model such as paying down credit utilization if it is above 9%, making sure only one or less than half of your revolving accounts has a balance, and getting negative information deleted. Look at your FICO reports in the section on what is hurting your score. Focus on those factors in order for the biggest gain.


Already did utilization and pretty much removed all collections from my reports. Still have Chargeoffs. Only collection that I still have that would help is one from midlands funding for $2000 and me and my fiance don't have quite that much money to pay for the collection and pay for any extra things that might come up for the mortgage. We would either be cutting it pretty thing or won't have any back up money for any emergencies should they happen.


Starting Score: 03/29/2013 540 EQ 05/01/2013 614 TU 05/30/2013 606 EX (Lender Pull)
Current Score: 07/27/2013 639 EQ 07/27/2013 651 TU98 07/27/2013 650 TU04 07/27/2013 617 EX V2 07/27/2013 639 EX 08
Goal Score: 660 EQ 660 TU 660 EX


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Message 5 of 15
Regular Contributor

Re: Experian 08 639. what would lender score be using V2

I pulled mine from here the same day my mortgage person pulled it.  From here, my Experian was 690, I was ecstatic.  When she pulled it, it was a 678.  So mine was about 12 pts different, both times she pulled it. 


In the Garden since 9/15/13... Goal Date 4/15/14 (WISH ME LUCK)
Closed on First Home 9/13/2013: USDA RURAL HOUSING
Lender Pull 7/25- EQ 673, EX 693, TU 670
Credit Card Approvals: 9/15- Discover It $4500; Chase Freedom $3500; Amex Blue $5000
Goal Score: 720 | Starting Scores (2/12): EQ 493, EX 521, TU 463
Message 6 of 15
Contributor

Re: Experian 08 639. what would lender score be using V2

For me, the lender scores were way higher than the scores I pulled for EX and TU.  EQ, as everyone else mentioned, was spot on.  My TU FICO that I can pull is about 686 but my lender pull was 737.  Experian was also way off with the one I pull being 670 and the one the lender got was 710.

Message 7 of 15
Regular Contributor

Re: Experian 08 639. what would lender score be using V2

thanks for all the information. I'm really just trying to get an idea of what way it's gone for people. I know there is no way of knowing for sure but I know I would feel a little better taking another inquiry if the majority of people had their lender pull be higher than the score pulled from my fico. There has to be some type of pattern. right?

 

If anybody else can provide any more information that would be great. and thanks again for everybody who contributed.


Starting Score: 03/29/2013 540 EQ 05/01/2013 614 TU 05/30/2013 606 EX (Lender Pull)
Current Score: 07/27/2013 639 EQ 07/27/2013 651 TU98 07/27/2013 650 TU04 07/27/2013 617 EX V2 07/27/2013 639 EX 08
Goal Score: 660 EQ 660 TU 660 EX


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Message 8 of 15
Established Member

Re: Experian 08 639. what would lender score be using V2

Myfico exp 595 - Lender pulled exp 653. There is a huge gap, and I have no idea why.
Message 9 of 15
Frequent Contributor

Re: Experian 08 639. what would lender score be using V2


@caldwell1031 wrote:
Myfico exp 595 - Lender pulled exp 653. There is a huge gap, and I have no idea why.

How far apart were the pulls?

Message 10 of 15
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