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Score disparity

rebuilding
Regular Contributor

Score disparity

My experian score 8 is 730. But my mortgage score shows 607.  What gives?  Why would it be so much lower?  Anything special I can do to get it up higher ? 

11/30/2009 TU 676 EQ 665 EX 654 (CU pulled)
5/14/08 TU 660 EQ 676 EX 623
9/5/07 TU 579 EQ 612 EX 546
Message 1 of 4
3 REPLIES 3
yodi2007
Contributor

Re: Score disparity


@rebuilding wrote:

My experian score 8 is 730. But my mortgage score shows 607.  What gives?  Why would it be so much lower?  Anything special I can do to get it up higher ? 


I am in the same boat as you. You need to get your DTI (debt-to income) ratio lower atleast 30%, open no new credit, and if you have any collections on your credit report, that will affect your mortgage scores. 

Message 2 of 4
VALoanMaster
Valued Contributor

Re: Score disparity


@rebuilding wrote:

My experian score 8 is 730. But my mortgage score shows 607.  What gives?  Why would it be so much lower?  Anything special I can do to get it up higher ? 


Your best bet is to have a mortgage lender pull your credit. The lender can run a credit simulator and give you a detailed plan on how to raise your scores.

VA Mortgage Expert. Mortgage Banker lending in All 50 States.
VA, FHA, USDA. Jumbo, Conventional.
CAIVRS Expert.
Message 3 of 4
pizzadude
Moderator

Re: Score disparity


@rebuilding wrote:

My experian score 8 is 730. But my mortgage score shows 607.  What gives?  Why would it be so much lower?  Anything special I can do to get it up higher ? 


What derogatory items are showing on your reports ?  There are significant differences in how FICO 8 views some items like collections vs the older FICO score models used by mortgage creditors. 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 4 of 4
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