Loan officers have been giving me misinformation (per this site) and it is frustrating to say the least. The first (Countrywide) loan officer (who sounded 16) told me that my credit score had nothing to do with the interest rate I would get. She said that the loan type dictates that and the score merely dictates how much documentation I would have to supply for confirmation of income etc. ????
The second (Quicken) loan officer told me that inquiries don't affect anything at all when it comes to getting a loan. He also stated totally different credit scores than what MYFICO.com showed. My 3 scores were 700/728/739 - my husband's were 666/700/736. He stated that my husband's score was 680 and mine was 709 (I obtained these new credit scores from MYFICO.com the same day I applied for my loans).
Because (on the Quicken paperwork) my huband's score is 680 (and I need his income) we are not eligible for an 80/20 (no money down) loan.
Can anyone clarify the discrepancy in credit scores from the lender and MYFICO.com?
I thought buying a house would be exciting...