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CASTePhYRusIO OP t1_iugchrb wrote

Reply to comment by Remarkable-Month-241 in How accurate is Credit Karma by CASTePhYRusIO

I’m learning so much tonight.

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Cruian t1_iuge4es wrote

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)

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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.

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bepr20 t1_iugrfiz wrote

Hey an accurate answer. nice.

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Remarkable-Month-241 t1_iugjlzj wrote

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.

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