Middle Score

[Anonymous]

I am in the process of getting my credit straight to purchase a home.  What is the middle score mortagage companies look for and vantage score?

Thank You

[DallasLoanGuy]

no lenders look at vantage.

there are fha loans down to 580 or so. hard to get. 600+ seems to be the sweet spot

[nycsimone]

How accurate are the scores posted by FICO.com when you pull them compared to what a lender pulls?

[Anonymous]

My lender requires a 620 for FHA and 680 for Conventional, but I'm sure other factors go into that such as reasons why the score is low.  I'm at a 650 mid score and everything seems fine, fingers crossed! =)

[Anonymous]

For FHA it's usually 620, however your DTI has to be super low with a 620 score meaning almost NO debt. if you are a 640 or more then your DTI can be the normal 40%, also the scores a mortgage lender pull are completely different than anything you can buy or get free, even from here at MYFICO, actually MYFICO scores were waaaaay off compared to my actual lender pull scores. the FAKO scores I pulled were actually closer but each person and credit profile is different.

[Anonymous]

Myfico scores are way off compared to lender scores.  Mine were pulled a little over a month ago and the lender pulls were almost 80 points lower on equifax than the myfico scores.  There should be a better way to determine where you stand but the 2 lenders I talked to are at a loss just like me.  They said they see differences all the time and there is no way to explain why consumers can't get the real numbers.

[Anonymous]

Wow! 80 points lower!? I hear it could go either way but jeez.. Sorry to hear that. 

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@Anonymous wrote:

Myfico scores are way off compared to lender scores.  Mine were pulled a little over a month ago and the lender pulls were almost 80 points lower on equifax than the myfico scores.  There should be a better way to determine where you stand but the 2 lenders I talked to are at a loss just like me.  They said they see differences all the time and there is no way to explain why consumers can't get the real numbers.

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[Lemmus]

...most mortgage providers use the older FICO 4 scoring algorithm because they have much more history with it and thus much more confidence in it ...myFICO reports use the newer FICO 8 scoring model which most credit card providers now use ...there is usually ~ a +/-50 point diference between them but it can vary widely ...most people never see their FICO 4 scores unless they are applying for a mortgage ...iirc you can obtain it from Equifax through a subscription but be sure what you purchase, the default EQ subscription is for their Vantage (FAKO) score which almost no one uses ...HTH