Thank goodness every user FICO and you may VantageScore fico scores have confidence in a similar fundamental pointers-studies from one of your credit file-to decide the credit scores

Lenders can decide and therefore model they would like to explore. In fact, certain loan providers you’ll propose to stick with old types on account of brand new money that might be associated with switching. And many mortgage brokers have fun with old models of feet FICO Results to help you conform to guidance off authorities-recognized mortgage people Fannie mae and you may Freddie Mac computer.

You also commonly wouldn’t learn and therefore credit report and score an effective financial will use one which just sign up. Nonetheless they all of the seek to result in the same prediction-the chance that any particular one can be 3 months delinquent to the a bill (either in general or a specific type of) next 24 months.

This means that, an equivalent circumstances could affect all of your current credit ratings. For folks who screen numerous credit ratings, you could find that the scores vary with respect to the rating model and which of the credit history it analyzes. Read More >