I’ve heard there are some "niche programs" that will look at either your highest score or the average of the 3. My middle score is 5 below what it needs to be and all that’s standing between us and this beautiful home my husband and I found is that score!!! =(
Does anyone know of specific lenders that will look at your average? So far we have contacted Wells Fargo and Sunbelt (we live in FL) and both of them look only at the middle score.
No, not ALL lenders look at the middle. Some will average all three, some will average the highest and lowest, and some only look at just one.
Do all mortgage lenders look at the middle of your 3 credit scores?
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No, not ALL lenders look at the middle. Some will average all three, some will average the highest and lowest, and some only look at just one.
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The average of the three. So two below the 680 your average is below. You will not get a loan unless you have that 20% down payment
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Most use FI CO and not the agencies’ scores. There is no averaging there.
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Some lenders in Florida will look at all three. You should check with a broker who has access to multiple lenders to find the financing that fits you bets. However, do not have multiple brokers pull your credit as this will negatively effect your credit score.
References :
http://www.newbeaconfinancial.com