Middle Score

[kal9988]

When applying for a mortgage, do they only go by the middle score?

[Lel]

Though having a middle score above a certain threshold is a significant factor in mortgage approval, there's a lot more to it than just the number.  For example, if you have a middle score of 650 but a couple recent lates on your credit cards, or an unpaid judgment, or a thin credit file, the score alone may not be sufficient for approval.

[kal9988]

Thanks. What I meant was, when looking at scores to determine the mortgage rate, do they only look at the middle score?

[Anonymous]

My LO at Chase was only concerned with the middle one..

[Anonymous]

From my experience so far, the middle score is used only to take a cursory look at your credit to see if you qualify and meet the minimum score requriements.  However, when it comes time for underwriting, all three CRA's will be looked at.  So even if your middle score's report is perfect....if there are blemishes on the other reports it will still come up.  At least it did for us.  As we moved from the pre-approval stage to initial underwriitng, they asked for LOE on various items from all three CRA's.

Good luck!  We have an accepted offer and are just getting things started so I'm ready for the roller coaster, lol...

[JGeuy]

I had the same experience and they wanted the dispute comments off. The comments are coming off, but my middle score dropped, to 617. Now I need to wait a few days for it all to readjust itself.

[JGeuy]

In saying I need to wait for it to readjust, I am meaning because when EQ removes the dispute comments, they actually open them all for reinvestigation. In this process, some of the stuff I was actually disputing was deleted, yaaaayyy!!! So it takes a little time for the score to readjust from my understanding. Hopefully, by the end of December this will all be good and I can move forward on closing on my house.  

[ShowCredit]

In 12/2007 I paid off the mortgage on the previous home I had and it has always showed as "in dispute" on my CR.   I did not dispute it because I did not want my scores to drop, now I pulled my report and it is finally now showing up as a positive on my report, my scores went up 10 points.    I don't know if it is because my file is in Underwriting to close next week.

TU 716  12/4/10

EQ 701  12/4/10

[JGeuy]

Hard to say. I am learning that "dispute comments' are bad, but "reinvestigation" seems to be acceptable to lenders, as this seems to indicate to lenders that the process is not driven by the consumer. The lender thought process seems to be that the dispute process is being used to artifically inflate scores. All I know is that havng remived these comments, my scores went up. I am hopeful to be able to close this month.