Your EQ score if pulled from here should match exactly what a lender would pull. The EX and TU scores, while they are true fico scores, are not the same scoring model lenders use so your score will be different. Whether higher or lower will depend on a lot of things. I have read of people seeing both.
I am in the middle of a USDA loan now and I have a judgment on my CR. Mine is paid and has been for many years however they never updated it to paid. It wasn't until I was working on my credit to purchase a house that I realized this needed updated. IF you look at my CR it looks like I just paid it off in June when it was really paid off in 2007. Anyway, I had to write an LOE for it but that was it. My mid score is a 680.
As far as what USDA will take vs a lender. The lenders have their own criteria which is stricter than USDA. I have heard that some lenders will do a 620 but most require a 640.
@J_G wrote:I do believe if you are still paying on the judgment it will be very hard to get approved. Also i don't believe your true Fico scores are above 600 with that recent judgment. You might be looking at fake advantage scores. You need to go into your bank or a mortgage company and apply and see what your scores are. My Transunion score from Myfico.com 680 and from transunion.com 678 but when lender pulled the day it was actually 613. You can't trust these websites you have to apply. Good luck
I don't think that's a fair assumption to make. If he says his FICO scores are around 630 (assuming he got them from here) then they really are around 630. Granted the TU and EX might not reflect the same as what lenders will have, the EQ will certainly match most of the time.
That aside, I think judgments are hit and miss. I've read a couple stories on this site where people were able to a) get a USDA loan while being on a judgment payment plan and b) get a USDA loan when it was satisifed less than 12 months earlier, or c) pay the judgment at closing. Why these happen for certain, i don't know. Some people are of the opinion USDA is more forgiving the higher your credit score is (like maybe you're 9 months judgment free instead of 12). It will also depend upon the thoroughness of the Title Co. If they're looking for judgments, they may only be looking for unsatisfied judgments. If there's a really old one that doesn't appear on your CR but was just recently satisfied, it may never get to USDA.
So to quote the other million people on this site....YMMV.
@cookiebird wrote:Your EQ score if pulled from here should match exactly what a lender would pull. The EX and TU scores, while they are true fico scores, are not the same scoring model lenders use so your score will be different. Whether higher or lower will depend on a lot of things. I have read of people seeing both.
I am in the middle of a USDA loan now and I have a judgment on my CR. Mine is paid and has been for many years however they never updated it to paid. It wasn't until I was working on my credit to purchase a house that I realized this needed updated. IF you look at my CR it looks like I just paid it off in June when it was really paid off in 2007. Anyway, I had to write an LOE for it but that was it. My mid score is a 680.
As far as what USDA will take vs a lender. The lenders have their own criteria which is stricter than USDA. I have heard that some lenders will do a 620 but most require a 640.
I'm just curious, but how die your LOE satisfy them? What prevented you from just making some bs story up and you really did pay it off in June?
I have no idea. I wrote the LOE and never heard anything about it. They actually never pointed it out, just asked for LOE's for any thing negative on my report.