Mortgage broker says not to count on FICO score

[Acase76]

I've told our lender my "MyFICO" scores are TU 686 and EQ 644 and obviously no idea what Experian FICO is. He continues to warn me that usually the score that they pull is lower than what we pull. I'm concerned that if what he says is correct that what is most likely the middle score (644) on here won't be high enough and we'll lose our chance at a home. Any thoughts? Is the score the lender pulls going to be lower than on here? What are your experiences?

[JWatson0405]

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@Acase76 wrote:

I've told our lender my "MyFICO" scores are TU 686 and EQ 644 and obviously no idea what Experian FICO is. He continues to warn me that usually the score that they pull is lower than what we pull. I'm concerned that if what he says is correct that what is most likely the middle score (644) on here won't be high enough and we'll lose our chance at a home. Any thoughts? Is the score the lender pulls going to be lower than on here? What are your experiences?

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Obviously your experience may vary - but your lender may also be referring to what many people consider a FICO, that is actually a FAKO.  Here on myfico.com you get a true FICO score, as opposed to many other credit monitoring services that offer some variation of their scoring methods.  It's not guarantee, but typically, the score you find here should be close to any other true FICO score.

[tooleman694]

My TU score here is about 20 points lower then what my lender got.

[MovingForward_2012]

When I got my preapproval scores from my lender, my EQ fico matched EXACTLY, 703 & 703, and that is my middle score. Now as for the TU score on this site, it is TU08 and most lenders use TU04. My TU score pulled by my lender was 718, 16 pts HIGHER than what is provided by this site so I have to disagree with your broker.

[GregB]

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@MovingForward_2012 wrote:
When I got my preapproval scores from my lender, my EQ fico matched EXACTLY, 703 & 703, and that is my middle score. Now as for the TU score on this site, it is TU08 and most lenders use TU04. My TU score pulled by my lender was 718, 16 pts HIGHER than what is provided by this site so I have to disagree with your broker.

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This is pretty close to correct.

The EQ FICO on here is Beacon v5.0 and will match a normal mortgage app exactly.

The TU FICO on here is Classic 98 and the score used for a normal mortgage app is Classic 04. FICO 8, the equivalent of the Classic version but no longer called that, is the newest version and is more common on Auto & CC applications.

[jadeite788]

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@Acase76 wrote:

I've told our lender my "MyFICO" scores are TU 686 and EQ 644 and obviously no idea what Experian FICO is. He continues to warn me that usually the score that they pull is lower than what we pull. I'm concerned that if what he says is correct that what is most likely the middle score (644) on here won't be high enough and we'll lose our chance at a home. Any thoughts? Is the score the lender pulls going to be lower than on here? What are your experiences?

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I pulled my FAKO from Experian and got a 596 but the lender pull was 634 from my credit union, it depends I guess.

[MovingForward_2012]

FAKO scores are fake. They don't mean anything. Don't waste your money.

[tooleman694]

My EQ Fako is in the low 500s, my real EQ Fico is almost 700.

[beb86]

Yeah with a Mortgage loan there are many more factors than just a FICO...I.E..DTI, Salary, time at employment/field of study, reserves...etc

[nvrgiveup08]

My scores were NOT the same and I actually purchased the scores the same day I applied.