HELOC - FICO 08 or Mortgage Scores

[Anonymous]

Does anyone know what the lenders use? Can anyone recommend a lender who will use Fico 08? 

I am purchasing a home in cash and will need a HELOC for renovations.  

Thanks! 

[Anonymous]

Most of them will use your mortgage scores

That's akin to asking a lender to use your bankcard score for an auto loan, when they have auto scores right there and available, ya know?

your credit profile 

If your scores are still around that range, you'll find higher rates and more denials (even if they use your F8 scores)

Sounds like you have money, though. So you may be able to come up on more without a need for HELOC.

Here are some threads to read up on for relevant info:

https://ficoforums.myfico.com/t5/Mortgage-Loans/Credit-score-and-HELOC/td-p/5894128 

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/FICO-Score-Version-Used-for-HELOC/td-p/5... 

[Anonymous]

Ref 

[Anonymous]

Thank you! 

My mid mortgage score is a 624.

60k annual salary with 597.00 in monthly expenses.

my family is providing me with the loan for the cash purchase (repairs are needed and conventional . FHA wouldn't not have worked) 

the repairs Will be completed and then I intend on getting a heloc.

non mortgage scores are 668 EQ , 713 TU , and 699 EX

[Anonymous]

I am getting ready to apply for a HELOC with a small community bank in West Va where I live so I am curious if it will be Fico 8 or the older version version 2,4,5. I am assuming a trimerge credit report will be pulled regardless.  I asked the teller in the bank but she really did not know . I can report with specifics when I know

[Anonymous]

Summit Community Bank approved my HELOC request pulling  TU Fico 4 (mortgage score) only.