As to the reasons Which have good credit Is very important
Fortunately all the user FICO and you can VantageScore credit scores believe in a comparable underlying advice-data from one of your credit history-to determine your own credit scores
Lenders can choose hence model they wish to play with. Indeed, particular loan providers you'll plan to stick to elderly brands due to brand new investment that might be involved in changing. And several mortgage brokers use more mature brands of feet FICO Ratings so you can adhere to guidance away from government-supported mortgage enterprises Fannie mae and you can Freddie Mac.
Additionally you have a tendency to would not understand which credit report and you may rating a beneficial lender will use one which just fill out an application. They also the aim to make the same forecast-the possibility that any particular one will become ninety days overdue on the a statement (in both standard or a certain sorts of) within the next 2 yrs.
Thus, the same facts make a difference all your credit ratings. For many who display several credit scores, you may find that results are different with regards to the rating model and you can which of your credit reports it analyzes.
