author Call Us: (706) 457-5678

Compare Listings

Credit Score Used by Lenders

Many of my clients keep an eye on their credit scores via Credit Karma or through one of their credit card companies – or both.  Most of these scores are coming from VantageScore, a joint venture created in 2006 by TransUnion, Experian, and Equifax, the three largest credit-reporting firms.  However, the credit score most widely used by banks and financial institutions for mortgages is your FICO credit score provided by Fair Isaac Corporation, which has been around since 1956. The reason for this is that most lenders end up selling their mortgages to Fannie Mae and Freddie Mac, and their guidelines rely on the FICO credit score.  The differences in how these two scores are created is the subject of a very interesting article from CNBC.  Please click here to read the full article.

img

Steve Tucker

Related posts

Are We In A New Housing Bubble?

Since May of 2020 the housing market has seen an incredible amount of demand, most of it driven...

Continue reading
Steve Tucker
by Steve Tucker
  • Blogs

17 Things to Never EVER Do to Your House

I thought this article from HouseLogic was absolutely worth sharing.  There were even some things...

Continue reading
Steve Tucker
by Steve Tucker

Steve Tucker Named One of America’s Best Realtors 2020 by Newsweek

I am very pleased to have been named one of the top REALTORS in Georgia in 2020 by Newsweek,...

Continue reading
Steve Tucker
by Steve Tucker

Join The Discussion