I pulled my credit report with credit scoring from true credit . My score is 537 . I want to buy the house that i'am in(lease option), and my morgage company said that my credit score was not near the score that I had pulled from equifax . I thought that was from FICO ? I'am confused . Toolhound.
Well, a couple of things. These days Fair Isaac tailors the scores for different types of loans. You have an Auto Loan FICO Score, a Mortgage FICO Score, an Insurance FICO Score, etc etc. So, depending on what you're applying for, your score can vary from the "official" score Equifax gives you. Also, mortgage lenders use a merged report that gives scores for all three bureau's. When figuring out your score they don't just pick one of them-- some mortgage companies will average the scores, some will throw out the top and bottom and use the middle score, etc etc. -- cnswift
