- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Credit Scores
Posted on 2/1/18 at 3:18 pm
Posted on 2/1/18 at 3:18 pm
I have credit score updates from both Mint and Credit Sesame that show me around 800. Just applied for a mortgage and lender is telling me I'm at 752. Anyone else notice such a large discrepancy?
I'm guessing being over 740 will be just fine, but this was much lower than I expected.
I'm guessing being over 740 will be just fine, but this was much lower than I expected.
7
Posted on 2/1/18 at 3:20 pm to seawolf06
Pretty common I think, though mine has always been the opposite. Credit.com has one score, but actual score when I apply for loan is higher. It's only been 10-20 points difference. Figured it was just timing differences or something.
Posted on 2/1/18 at 3:46 pm to seawolf06
Same thing happened with me. I was showing like 780 on Credit Karma, and when I applied for mortgage, they showed 740ish
Posted on 2/1/18 at 3:55 pm to seawolf06
Same just happened to me, 800ish from free montly bank estimate to 750 on mortgage application. It is normal and at that score you are getting the best rate regardless. An 800 score on mortgage application wouldn't lower it.
Posted on 2/1/18 at 4:22 pm to seawolf06
When people usually think of a credit score, most are thinking about the FICO score. Several years ago, the credit bureaus started coming up with their own scores.
Also, there are specialized scores for mortages, car loans, etc. So it's probably not the same scores you're comparing.
Even a FICO score can be different from two places if there are differences in the credit data at the bureaus.
Also, there are specialized scores for mortages, car loans, etc. So it's probably not the same scores you're comparing.
Even a FICO score can be different from two places if there are differences in the credit data at the bureaus.
This post was edited on 2/1/18 at 4:23 pm
Posted on 2/1/18 at 4:58 pm to seawolf06
quote:why not use your free yearly report from transunion, equifax and/or experian
I have credit score updates from both Mint and Credit Sesame that show me around 800. Just applied for a mortgage and lender is telling me I'm at 752. Anyone else notice such a large discrepancy?
I'm guessing being over 740 will be just fine, but this was much lower than I expected.
Posted on 2/1/18 at 5:04 pm to gpburdell
There is a different formula used for Mortgage credit scores than consumer credit scores. Usually about a 30-40 point difference with the mortgage score being lower.
Posted on 2/1/18 at 5:54 pm to gpburdell
quote:
Even a FICO score can be different from two places if there are differences in the credit data at the bureaus.
Hell, FICO has multiple scoring formulas itself that it sells
Posted on 2/2/18 at 7:42 am to HYDRebs
quote:
There is a different formula used for Mortgage credit scores than consumer credit scores. Usually about a 30-40 point difference with the mortgage score being lower.
Thanks. Wouldn't it make sense just to have higher thresholds for mortgages instead of using a different formula altogether?
Posted on 2/2/18 at 12:27 pm to seawolf06
From what I have read there is no one credit score. There are dozens of different ways that a score can be calculated depending on what factors a particular lender wants to weight higher or lower.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News