Consumers can be very confused by the many credit scores available online for purchase
-The credit score most commonly used by mortgage bankers is the
Fico score with a range of 300-850.
-The Vantage Score ranges from a 501-990 with letter grades of A-F.
-Plus scores range from a 330-830.
-Equifax scores range from a 280-850.
-A 790 Vantage score would be considered average while a 790 Fico score is considered AMAZING!
Consumers must be careful they know what score their banker will use and the differences between the varied scores offered online. If an individual purchases the wrong score without knowledge of which score the banker is using they could be in for a big surprise when the mortgage banker pulls a completely different score number at loan application.
-The Vantage Score ranges from a 501-990 with letter grades of A-F.
-Plus scores range from a 330-830.
-Equifax scores range from a 280-850.
-A 790 Vantage score would be considered average while a 790 Fico score is considered AMAZING!
Consumers must be careful they know what score their banker will use and the differences between the varied scores offered online. If an individual purchases the wrong score without knowledge of which score the banker is using they could be in for a big surprise when the mortgage banker pulls a completely different score number at loan application.
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