Posted on: 11th Mar, 2009 08:47 am
I'am trying to get a mortgage loan. I was wondering what my score average is with all three scores.
transunion is 742
equifax is 580
experian is 581
do you think i would get a good rate
Thanks
transunion is 742
equifax is 580
experian is 581
do you think i would get a good rate
Thanks
Hi Guest!
Welcome to forums!
Is this your recent credit score? Well, I must say I'm quite surprised about the difference in scores. The score of Transunion is much higher compared to Equifax and Experian. I guess, most of your creditors reported about your credit status to the Transunion.
However, the lenders will either consider your middle score or lower score while approving the loan. As your middle score is not so good, I would suggest you to look for FHA loans provided you do not have late payments or collections in your credit report.
You can speak to the lenders of this community and seek a no obligation free mortgage consultation from them. This will let you know what type of rates you can get.
Sussane
Welcome to forums!
Is this your recent credit score? Well, I must say I'm quite surprised about the difference in scores. The score of Transunion is much higher compared to Equifax and Experian. I guess, most of your creditors reported about your credit status to the Transunion.
However, the lenders will either consider your middle score or lower score while approving the loan. As your middle score is not so good, I would suggest you to look for FHA loans provided you do not have late payments or collections in your credit report.
You can speak to the lenders of this community and seek a no obligation free mortgage consultation from them. This will let you know what type of rates you can get.
Sussane
I will do that!
thank you
wendi
thank you
wendi
wendi, the score used by lenders is always the middle score. in your case, that would be 581. it appears from those scores that trans union is lacking some relevant information and that's why the score is where it is. currently, minimum scores needed to qualify are at 620, so you'll have difficulty qualifying at this time, but if you find a lender who will work with you and help you get to that point, it won't take so long to reach that score level and obtain the loan you desire. keep on plugging.
