In the last few weeks, we have had numerous borrowers refuse to let us run their credit (worried about inquiries) and then tell us their scores were far higher than they actually were. The reason this happens so often is b/c consumer credit scoring models are much more lenient than the scores we pull for mortgage lending.

Consumer credit scores (provided free by many credit card companies) are often 20 to 30 points higher than the scores we pull. The only credit scores that matter for mortgage borrowers are those pulled by a mortgage lender/originator.

As an interesting aside, auto lenders have even stricter scoring models than mortgage lenders.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646

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