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mortgage qualification: Credit Scores Explained! - 08/27/08 06:14 PM
As we continue to experience credit challenges in today's market, it's important to be able to educate your clients as much as possible.  And some of the most common misunderstandings out there revolve around credit scores.  So here is information you can pass along to your clients in a concise, easy to understand way!
First, there are three main credit bureaus, Transunion, Equifax, and Experian.  In a mortgage application, we will use the middle score (not an average, but the middle score) of the lowest scored applicant on the application.  Credit scores can vary widely between the bureaus as each of them … (8 comments)

 

Eric Frederick

Phoenix, AZ

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Eric at Eagle Nationwide Mortgage Co.

Office Phone: (877) 539-0552

Cell Phone: (602) 748-9780

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