Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

3 scores

Posted on: 29th Jul, 2009 09:38 am
when you say your score has to be 620 or above for a mortgage or refinance are you saying that all three scores have to be 620 and above??
no, db. we do pull merged credit reports, which brings us all three scores. the median score is always used for qualifying - for example, is you had 621-620-619, we use the 620. and if we had joint borrowers with scores of 621-620-619 and 700-680-660, we again use the median, but we use the lower of the two, so 620 would be the score used.

we often find a big discrepancy in the scores - nowhere as close as the example i've given above.
Posted on: 29th Jul, 2009 10:05 am
In US, There are 3 agencies: Equifax, Experian, and TransUnion,

Lender takes borrower's credit report from all the 3 agencies.

Therefore, it has to be same for all the 3 agencies.
Posted on: 29th Jul, 2009 10:10 am
now what in the world does "it has to be the same for all the 3 agencies" mean?
Posted on: 29th Jul, 2009 10:20 am
I know about the 7 year rule but is it worth writing to the Credit Bureaus or CC companies to asked if they would remove accounts from the potential negatives on my credit report since I now have paid them off.
Posted on: 29th Jul, 2009 11:48 am
db, you cannot ask the agencies to remove things and have it be effective. i don't think you'll have any better success with the creditors themselves, either.
Posted on: 29th Jul, 2009 12:06 pm
oK thanks, I just want to say gmakerly you have been very helpful to me with your comments on other various credit subjects.
Posted on: 29th Jul, 2009 12:21 pm
thanks - it's good to know when someone benefits.
Posted on: 29th Jul, 2009 12:23 pm
Page loaded in 0.113 seconds.