Fico vs Free SCores

[lenny44]

I am aware that there is a difference in Fico scores we pay for and the free, but I still am nervous.

I will be refinancing my home in 3-4 months, went to rocket Mortgage and one of their early offerings is to get a credit score without it hurting your credit (I am guessing a soft hit)....went through the steps and it came back with a Transuion only and it showed 637...my Transunion on MyFico shos 712.  I had not updated my annual free report from My Fico (I was going to hold off until I got closer) so I went ahead and did that and it showed my Transunion at 712 (2 points lower).

So the question is can I with great confidence go ahead and apply in a few months knowing I am in that solid 700 range...or...will the mortgage lender really see the number.

I am just surprised that the difference between the two was almost 75 points.

Thanks in advance...My three My Fico scores are E=714, T=712, EX=662
Len

[Anonymous]

You're going to want to find out the scoring model that the lender you are interested in uses, then obtain your scores for that model to see where you stand.  Unfortunately scores can vary greatly across models, so you really can't estimate your mortgage scores using other score versions.

[iv]

The standard scores that are used by mortgage lenders are available here, but they are NOT the three scores in "large print" featured at the top of the screen, and in the alerts.

You'll need to look at the full list of available scores, for the ones listed as "commonly used in mortgage lending decisions" - those will display as Equifax Score 5, Transunion Score 4, and Experian Score 2.  (And these scores only refresh on myFICO.com when you pull a full report, NOT with the alerts/monitoring.)

These scores will commonly be quite different than the FICO 8 scores featured in the alerts, but are effectively the only scores used for mortgage lending.

[SouthJamaica]

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@lenny44wrote:

I am aware that there is a difference in Fico scores we pay for and the free, but I still am nervous.

I will be refinancing my home in 3-4 months, went to rocket Mortgage and one of their early offerings is to get a credit score without it hurting your credit (I am guessing a soft hit)....went through the steps and it came back with a Transuion only and it showed 637...my Transunion on MyFico shos 712.  I had not updated my annual free report from My Fico (I was going to hold off until I got closer) so I went ahead and did that and it showed my Transunion at 712 (2 points lower).

So the question is can I with great confidence go ahead and apply in a few months knowing I am in that solid 700 range...or...will the mortgage lender really see the number.

I am just surprised that the difference between the two was almost 75 points.

Thanks in advance...My three My Fico scores are E=714, T=712, EX=662
Len

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IMHO the only way to get a true picture of your mortgage scores is with a full 3B report from MyFICO. I wish there were other ways, but I don't know of any.