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MORTGAGE SCORES GRRRRRRR!!!!!!

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Valued Member

MORTGAGE SCORES GRRRRRRR!!!!!!

im in the process of rebuilding and ive been watching my scores across the board very closly. my 8 scores have drastically improved but it seems that the mortgage scores have barely changed. there is probably a 30- 40 point difference in my scores. how does one go about improving mortgage scores? 

 

 

EQ:581 TU:584 EX: 609-November 2015
EQ:595 TU: 601 EX:627 -January 2016
March 2017 EQ:644 TU:615 EX:670

Gardening Commencing 11/4/2016,
Goal : 650+



C1 QS-800CL MCB visa Rewards-500CL
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Moderator Emeritus

Re: MORTGAGE SCORES GRRRRRRR!!!!!!


@drakehart1 wrote:

im in the process of rebuilding and ive been watching my scores across the board very closly. my 8 scores have drastically improved but it seems that the mortgage scores have barely changed. there is probably a 30- 40 point difference in my scores. how does one go about improving mortgage scores? 

 

 


Unfortunately the short answer is either fix basic things like revolving utilization or get negatives off.

 

The aging factor on derogatories is different on FICO 8 vs the mortgage scores (older algorithms).  Also other reindeer games like the Share Secured Loan trick work brilliantly on FICO 8 if you don't have an installment loan, but it's flatly ignored for everything except mix of credit on 2/3 of the mortgage scores.

 

There's some other differences but unfortunately for the purposes of getting a mortgage there's fewer tricks we have available, and it simply takes longer in terms of the time domain to improve one's scores especially if you have "middle-age" negatives.  Longer thread on differences if you're interested linked in the sticky:

 

http://ficoforums.myfico.com/t5/Mortgage-Loans/FICO-scores-used-for-mortgage-and-where-to-obtain-the...




        
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