IM DEVISTATED!! FICO vs Vantage

[Anonymous]

Ive been monitoring and working on my credit for over a year. Paying off balances, removing incorrect items, keeping ontime payments, increasing credit lines etc. I had a rockey start because of a few charge offs, but over the last 7 months, ive increased my score about 150 points! or so I thought.

I went ahead and let the lender run my Credit for pre-approval for first time home buyer. Ive been working really ahrd on this, and holding out for the right moment. I thought my scores were around 590-620 across the board. I have TU account, EXP account, Credit Karma and Credit Sesame, im kind of a credit junkie now. 

The lender calls me.... and says my scores are TU -499, EQ - 501 and EXP - 597!!!!!!!!!! im not even CLOSE to minimum standards i seriously want to cry. Then TU tells me they cant provide by FICO score. They dont make those public, only to creditors! I just dont understand how they can be so different, and SO LOW!

[hapagrrl]

Wow - I just posted about something similar on a re-fi. I don't have any suggestions for you, but wanted to provide some sympathy: your heart must've dropped right down to your stomach when you learned about this!! To have worked so hard and then to have it feel like it was for nothing: I'm so very sorry!  I will say, though, that I was in your place a few years ago, before I bought my first house. It took me YEARS to crawl out of the 400s - but I did do it -- and so can you! Have you talked to your lender to see what they have to suggest about how to move forward/get past this hurdle? I guess your other option is to keep going and wait it out.. 

[StartingOver10]

Your lender is not up to date. The scores that are used for mortgages are publicly available here on this website (MyFICO), but you have to pay for them. The qualifying score is the middle score of the three scores - not FICO 8's, but the scores most commonly used for mortgages. Take a look at the 3B report in the product section at the top of the page. 

PS - please note that Credit Karma's scores are not used by lenders. Those are Vantage scores and lenders use FICO scores. Go to the rebuilding subforum here on MyFICO to see what you need to do to improve your scores. Also, find another lender, the one you have now is not up to date with his information on scores which means he may not be up to date on other things as well. I would be concerned to use a lender that makes the statement to you that he made. JMO

[Anonymous]

Thank You. I'm mostly concerned with the fact that I've paid off a lot of debt, and did so much work increasing my score that I don't even understand how TU can report 499. No bankruptcy, no repo, no judgements...I just don't get what else I can do. On time car payments for 4.5 years, 2 CCs at 10% balance all on time payments for 3 years. No debt...at all. Just stupid medical bills. I make 75000 a year, and have good rental history for 15 years. This scoring system isnt fair

[Anonymous]

Thank you so much. Yes definitely hurt a lot. May have shed a tear or two. I'll keep doing what I can. I hate that I've spent my savings for nothing so far

[Anonymous]

Something here doesnt add up though

How many baddies are on your reports (you mention old medical bills), something is holding you down, big time.

You have an installment loan

You have revolving lines

Your AAoA is 4 years according to your information

You have lowered your debt and are under 10% util

Your payment history on those three accounts is perfect

You have not recently applied for lots of credit, correct?

The ONLY thing that could be holding you that low are a bunch of derogs.  List them please.  Along with their original dates of deliquency.

I am now intrigued and I must get to the bottom of this, because ive gone from where you were in score, to mid 600s and a 700 in eight months.

Something is up

[Anonymous]

Agreed! Thats why I called trans union and they tell me they can't provide me the FICO score or information.
I have 6 derogs.
4 medical to talking approx 5000 from 2012
1 personal loan I'm paying 300.00/ mth on with a 1400 balance (almost done)
1 sprint bill 979 I refuse to pay cause it was 2 months of service and I immediately switched back (2013)
I understand the few accounts above aren't great. But I still don't see where 499 comes from
13000 car loan 4.5 years old on time payments only 3 left
2 CCs open with 500.00 CLs with under 50.00 on each
I have a paid closed CC from Mazuma all good on time.
Thats all....what else am I supposed to do? I won't pay that stupid sprint bill they can't justify it but won't budge either. Its not for phones or cancelation , they can't tell me why its so much and said its over 6 mths old so they can't make adjustments

[Anonymous]

Oh and I only have 3 Inquiries from my CCs over a year + old

[Anonymous]

Ok the medical bills, from 2012.  Is that when they were reported to the bureaus or is that when you first missed payment?  That is important, because you might be getting very very close to when they fall off.

The Sprint bill is from 2013.  I ask the same question.  did you become late in 2013 or is that when they reported it

The personal loan derog youre paying off, do you have a deal in writing with that company to delete it off your reports when you are done?  And what year is it from?

[Anonymous]

Im looking at my FICO report the lender gave me now. The medical bills from 2012 are the "Opened" dates. They were recently "reported" in august because i disputed them because i paid alot of these off over the years (from ovarian cancer surgery) and i cant keep trayly ck of what is what because they keep reselling them to other collection agencies once i get them removed. So i hope they will fall off soon.

the Sprint bill was only open and closed in 2 months so 2013 was the the "Opened" date. It also says reported 10/17 because i tried to dispute it after calling their finance department to try to make arrangements and they wouldnt budge.

Im assuming the disputes may have hurt me since it made the report dates recent?