Remarkable-Month-241 t1_iugcd2x wrote on October 31, 2022 at 2:41 AM

Transunion, Experian, Equifax. Our system selects the 2nd lowest score

CASTePhYRusIO OP t1_iugchrb wrote on October 31, 2022 at 2:42 AM

I’m learning so much tonight.

Cruian t1_iuge4es wrote on October 31, 2022 at 2:55 AM

Credit Scores are made up of 2 (semi) independent parts:

A reporting agency (Equifax, Experian, TransUnion)
A scoring model (there are 2 main scoring model companies, each has many different models available)

When doing a credit application, lenders combine a reporting agency + model of their choice (or for mortgage purposes, they tend to have to use the combinations I linked above) then get that score to make their decision with. Because of bullet 2, you do not have a singular Equifax score or single Experian score.

bepr20 t1_iugrfiz wrote on October 31, 2022 at 5:11 AM

Hey an accurate answer. nice.

Remarkable-Month-241 t1_iugjlzj wrote on October 31, 2022 at 3:44 AM

Make on time payments, dispute anything that does not belong. Save for a down payment AND closing costs. Ask about down payment assistance grants or certificates.

CASTePhYRusIO OP t1_iuhd1tr wrote on October 31, 2022 at 10:31 AM

Will do. Thanks.