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If you have three different scores from the three CRAs which score is used when you apply for a loan?
Wiki User
∙ 17y ago
Lenders/banks will usually use one score on regular loans even on some home equity loans. It will depend on which repository they use the most. If we are talking about mortgages, then all 3 reports are pulled and the middle score is used. If a married couple is applying then the lowest of the 2 middle scores will be used. If you are talking about a mortgage loan most lenders use the score that falls in the middle as a qualifier. So, if you have a 580, 621 and a 650 they will use the 621.
Wiki User
∙ 17y ago
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Is your fica score a combination of all three credit bureaus?
No. There are actually 49 different FICO scores. Different credit bureaus use different scores for different industries.
Is 724 a good credit score?
A 724 is considered an excellent score. If you apply for a loan, some companies will pull all three scores and they will go off whatever the middle score is.
What credit score of the three do creditors use?
When you have all three credit scores pulled, most creditors look at the middle score. If you have onloy two credit scores pulled, they will use the lowest one.
What are the three different types of credit score?
The three primary credit bureaus (TransUnion, Experian, and Equifax) will all produce a slight variation on credit scores because they contain different information. The primary method of credit score calculation is FICO, from the Fair Issac Corporation. However, there are also several proprietary formulas.
How does one get their Equifax credit score?
Credit scores are obtained directly from Equifax's website. Equifax offers a three in one product for this, combining a credit report with a credit score and a FICO score.
Is your fica score a combination of all three credit bureaus?
No. There are actually 49 different FICO scores. Different credit bureaus use different scores for different industries.
Is 724 a good credit score?
A 724 is considered an excellent score. If you apply for a loan, some companies will pull all three scores and they will go off whatever the middle score is.
What credit score of the three do creditors use?
When you have all three credit scores pulled, most creditors look at the middle score. If you have onloy two credit scores pulled, they will use the lowest one.
The average of three scores is 8 When another score is included the average drops to 7 What is the new score?
4
How many years in three scores?
Three scores is equal to three times twenty, which is sixty years.
Evaluate All Three Credit Scores Before Applying For Financing?
One may wonder which credit score is accurate since each consumer has three different scores. The three credit reporting agencies include Transunion, Experian and Equifax. Each reporting agency has a distinct credit score for every consumer and all three scores may very well be different between each agency. Mortgage companies may consider an average of all three scores and other finance companies may focus on just one score, the procedure varies. The important thing to note is that one should obtain a free credit report from each credit reporting agency in order to determine if there are any errors on each report.
What are the scores on the SAT?
The SAT test has three different sections which are math, reading, and writing. An average score is considered 1500. A perfect store, which is very rare, is 2,400.
What are the three different types of credit score?
The three primary credit bureaus (TransUnion, Experian, and Equifax) will all produce a slight variation on credit scores because they contain different information. The primary method of credit score calculation is FICO, from the Fair Issac Corporation. However, there are also several proprietary formulas.
Why do I have 3 different credit scores from the credit reporting agencies?
Chances are that at least a couple of those companies you requested credit scores through are not legitimate credit score companies. The three endorsed by the US government are: Equifax, Experian and Trans Union.
Why do brokers look at the middle score as opposed to the highest one on your credit reports?
I work for a mortgage company and we also use the middle score. Because the three scores can differ so significantly the middle score is a way of averaging out the 3 scores. Also if you're applying for a loan with a co-borrower you should know that we use the lower of the two borrowers middle scores when determining what credit score to give the loan. So if your scores are 680, 700, and 710 we score you a 700. If you're applying with your spouse who's scores are 610, 630 and 640 the spouse's score would be 630 and 630 would be the score assigned to the loan.
How is a composite SAT score calculated?
The composite SAT score is based on critical reading, math, and writing. The maximum combined score is 2400. You just add the scores from the three sections to determine your composite score.
Does three scores and ten means seventy years?
Yes. (Note that one says and writes three score - without an -s on the end).
