VA Home Loan - Home Mortgage scores vs FICO 8 scores? How to predict the mortgage scores?

[Anonymous]

I am wondering about what would be my home mortage scores currently. At the time when I was trying to get the loan from Veterans United (veteransunited.com), my mortage fico scores was

Equifax Beacon 5.0 FACTA - 699 (11/06/2017)
Equifax Fico 8 - 720 (11/06/2017)
Equifax Fico 8 - 736 (03/10/2018 with incorrect credit report)

Experian Fair Isaac V2 - 728 (11/06/2017)
Experian Fico 8 - ? I couldn't pull it for some reason (11/06/2017)
Experian Fico 8 - 740 (03/10/2018 with incorrect credit report)

TransUnion FICO Risk Score Classic 04 - 698 (11/06/2017)
TransUnion Fico 8 - 730 (11/06/2017)
TransUnion Fico 8 - 724 (03/10/2018 with incorrect credit report)

DTI is currently 28%, by Mid Apr 17th it should dropped 27%. (DTI 28% and 27% including lot rental $299)

However, currently I have incorrect credit reports with missing Citibank account that pulled down my scores. What do you think the new mortage fico dcores would be based on 03/10/2018? Anyone? Thanks.

[Anonymous]

Sorry I posted twice. I thought this post was not posted or deleted since it was dissapeared earlier.

[Sneakytiki]

Do you subscribe to myfico? If you get the quarterly or monthly reports they will show you all the other scores.

You should be fine though, I think you only need a 620 to get prime rates with a VA loan, I had a 628 middle score and got 3.5% on my first app in 2015. I had to switch to a broker from Veterans United though to get the best rates and because my DTI was a good amount above 41%. I think they did something with residual income so DTI is not concrete for everyone with a VA loan. Plus, they never would have been able to keep up with the seller. 

[Anonymous]

Hi Sneakytiki,

Thank you for replying and the assurance with my current scores and DTI to get the new mortage loan. I tried to get the quarterly report from myfico.com but I got into the issue with security identification check. It was already cancelled anyway. I got my Fico 8 report and score from Experian in the end. I also paid the Transunion just to dispute some errors. Sometimes creditkarma allows me to dispute but since it is free Transunion and especially Equifax usually would deny the access to their dispute pages. If you pay them directly it wouldn't be any problem. 

Anyway, I also heard that interest rate has gone up a bit since it hasn't done that the last 8-10 years or something. So the situation now might change even if I have 740 scores and above.  I am still hoping I could get 3.5% or less. If you don't mind me asking, which lender you refinanced with to get a lower rate? Thank you again for replying.

[Sneakytiki]

I didn't refinance, I switched from Veterans United to a mortgage broker in my state and used them for my home purchase. 

You would probably get about a 1% increase today due to the rates going up but I haven't really looked at them, just a few for refinance options to get rid of my mortgage company. 

I'm not sure how VA loan interest rates change as you climb up from 620 but someone will probably chime in with more info.