Which FICO score is most important

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Some once asked me: Which FICO scores are most important for mortgage applications?

We GENERALLY use what is called the "mid score." Most people have three FICO scores—one from each of the three credit repositories (Equifax, Experian, and TransUnion). We discard the high and the low using the one in the middle—the mid score.


This is especially important when we are doing a "rapid rescore" or "credit bureau update." These both mean the same thing: using documentation acceptable to the credit bureaus, we can bypass the normal monthly reporting cycle for creditors. If we are paying down revolving debt, for example (credit cards), we will get a current statement from the borrower reflecting the lower balance. The credit report vendor will submit that document to the bureaus and get a new FICO score within about five days based on the lower balance.


FICO scores begin to suffer when credit card balances exceed about 30% of the credit limit. The credit report vendors charge a fee for the rescore service, and since we are only looking improve the mid score, only one or two bureaus need to be updated. This saves the borrower a couple of hundred dollars.


Credit standards are not as stringent as some believe. You can buy a home with lower scores than you might think.

If you have questions about our credit, reach out. I'm here to help.


All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.

Paramount Residential Mortgage Group
Corporate NMLS ID:  75243
Privacy Policy:  https://www.prmg.net/privacy-policy/

Brian Voytko

Mortgage Advisor

NMLS: #437292

The Mortgage Whiz

Company NMLS: 338923

Cell: 215-407-3832

Email: BVoytko@PRMG.net

Web: http://www.mtgwhiz.com

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Brian Voytko

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Mortgage Advisor

NMLS: #437292

Cell: 215-407-3832


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