Question by Chrissy: Which credit bureau is the most popular to use by home loan lenders?
I know the three…Experian, Equifax and TransUnion, but rather then checking all three I was advised that essentially loan/mortgage officers typically use only one to check eligibility for a home loan. What is the most popular credit bureau used? I am in the process of looking for a home, and want to make sure I know which score will be pulled considering all three have different scores.
Thanks!!!
Best answer:
Answer by bdancer222
You were misinformed. Mortgage lenders use all three. Typically they take the mid score, but some do an average. They also will be using FICO scores. Equifax will sell you FICO, but TransUnion and Experian sell Vantage (different scale). You can get FICO scores for TransUnion and Equifax at MyFico.com. Consumers cannot get FICO scores for Experian anymore.
You also want to review each report and resolve any errors. If you have derogatory items, mortgage lenders will require you resolve them before you are approved.
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