- Centurion Member
- Posts: 474
- Joined: Sat Apr 13, 2013 7:49 pm
- Location: Colorado, USA
[color="red"]I'm currently 25 years old and have a great career and awesome credit. Between the three bureaus I range from 774-782. I monitor my credit with LifeLock and FreeCreditReport.com, and have been since I was 19.[/color]
What's the source of those scores? If you're relying on FreeCreditReport.com, that is a FAKO score; it is not a FICO score. Prior to shopping for a mortgage you need to get your FICO scores, from MyFICO.com. The Experian and Equifax models used there are the most recent. The Transunion score, for now, is TU98, a very old model that practically no one uses. MyFICO officials indicate that they are in negotiations to upgrade TU to the latest/08 model, and that should be accomplished sometime this summer. In the meantime, there are other sources for getting a TU FICO score, most notably Discover, which provides the TU08 score on each monthly statement. I'm not encouraging you to apply for a Discover card, just to make you aware of a source, if you SHOULD decide to apply for a Discover card 6-12 months before applying for a mortgage. But I digress.
My point is, get your FICO score, so you have a baseline/benchmark to start with. Your EQ score should match up with a mortgage broker's pull, if they are using the EQ08/Beacon 9.0 version. It's a bit more generous than the previous Beacon 5.0 version. EX from most lenders will be an 04 version, but more are moving toward the 08 version. There could be discrepancies, but the 08 version is usually more generous.
Retired, and in the process of retiring cards!
EQ = 846 EX=828 TU = 836 as of 02/2016