5d (edited) • General discussion
🏡 Trying to Buy a Home? Read This First.
If you’re preparing to buy a house, you need to understand which credit score lenders actually use because it’s NOT always the score you see on Credit Karma.
🔑 What lenders really use
Mortgage lenders use your FICO® credit scores, not VantageScore.
That’s why your first step should be:
📲 Download the MyFICO App
MyFICO allows you to:
- See your actual FICO scores
- View multiple FICO versions, including:
- FICO 8 Mortgage-related
- FICO scores (used by lenders)
- Understand how lenders may see you
📊 Want another way to check?
📲 In the Experian app or website, you can:
- View your Experian FICO score
- Monitor changes
- Track credit factors affecting approval
⚠️ Important to know:
- Experian shows FICO scores tied to Experian only
- Mortgage lenders review all 3 bureaus (Experian, Equifax, TransUnion)
- That’s why MyFICO gives the most complete picture
💡 Why this matters
✔️ Your mortgage score may be lower than your consumer score
✔️ Interest rates are based on FICO mortgage models
✔️ Knowing your real score helps you prepare, not guess
🎯 Prosperity Impact Tip
Before applying for a mortgage:
- Check your real FICO scores
- Identify what’s hurting them
- Create a credit strategy, not just hope for approval
Education first. Strategy second. Prosperity always. 💎
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🏡 Trying to Buy a Home? Read This First.
skool.com/prosperity-impact-foundation-2719
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