Which score is used?!

[Anonymous]

I am so confused. For fha and/or usda which score model is used. Fico 8, or fico 2, 4, and 5? Just purchased my husbands scores and he qualifies for usda with fico 2, 4 and 5 scores which say older version most commonly used in mortgage lending, but his fico 8 scores, the 3 main scores that populate when you purchase the 3B monitoring, he doesn't qualify. So which ones are used by most lenders for a home loan?!

[Anonymous]

If you have the myFICO subscription, you want to look at your mortgage scores. 

Experian FICO Score 2

Transunion FICO Score 4

Equifax FICO Score 5 - also known as Beacon Score 5

[NC_Mtg_Loaner]

Wow, great question. 

The answer is that "your actual results may vary" and most lenders are going to use your middle score when looking at all 3 scores.  

So considering that they will throw out the high score and the low score when they pull a tri-merge copy of your reports from EXP, EFX and TU what I believe is most critical is that you take care of the basic fundamentals behind obtaining and maintaining healty credit scores so that whatever scoring model is utilized by the Bureaus, your score will be its best because you understand how credit and credit scoring works.

[Anonymous]

I know they will use the mid score, what I don't know is if they will use fico 8 scores or fico 2, 4, 5 scores which are "mortgage scores"

[Anonymous]

They don't care about fico 8 scores. The 3 scores they will pull are the fico 2, 4, and 5, picking the mid score out of those 3. rookie's post details who uses which model they don't each use all 3 models.

[DallasLoanGuy]

---

@Anonymous wrote:
I am so confused. For fha and/or usda which score model is used. Fico 8, or fico 2, 4, and 5? Just purchased my husbands scores and he qualifies for usda with fico 2, 4 and 5 scores which say older version most commonly used in mortgage lending, but his fico 8 scores, the 3 main scores that populate when you purchase the 3B monitoring, he doesn't qualify. So which ones are used by most lenders for a home loan?!

---

the mortgage scores.

i know it is confusing. 

[Revelate]

What others have suggested re 5,4,2 is correct.

http://ficoforums.myfico.com/t5/Mortgage-Loans/FICO-scores-used-for-mortgage-and-where-to-obtain-the...

Unless you stumble into a portfolio lender (which is absurdly rare unless you go looking for one specifically) these are the scores that will be used for mortgage underwriting in some absurdly high percentage of mortgage originations with how the market is setup.  

If the GSE's switch, then the scores will switch virtually overnight; until that point though, we're on the older algorithms as the gold standard.