Yes. Most mortgage lenders order what is called a tri-merge mortgage credit report, which includes your credit history and mortgage FICO scores from all three major credit bureaus:
- Experian
- Equifax
- TransUnion
Unlike many consumer websites or credit card companies that only use one bureau or provide a VantageScore, mortgage lenders use specialized FICO mortgage scores from each bureau because they are specifically designed for home lending.
For most conventional, FHA, VA, and USDA loans, lenders use the middle of your three mortgage scores to determine your qualifying credit score.
For example:
- Experian: 682
- Equifax: 659
- TransUnion: 671
Your qualifying mortgage score would be 671—the middle score.
If there are only two valid scores available, lenders generally use the lower of the two. If only one score is available, that one score can be used provided the other two aren’t frozen or locked. If they are frozen, they need to be unfrozen.
This is one of the reasons borrowers are often surprised when the score they see on Credit Karma or through their bank is different from the score used for a mortgage. Those services typically display a different scoring model than the mortgage-specific FICO scores lenders are required to use.
If you’re unsure where you stand, we can review your mortgage credit report with you and explain exactly which score is being used and what steps may help improve it before you buy a home.