Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
Mk19491

0 Contributions
0 People Helped
Difference between mortgage credit
Why when a mortgage looks up my credit it is lower than what you show.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3671 People Helped

There are an estimated 300

Credit Reporting algorithums used in finance today.  So in theory, you can have up to 300 different credit scores at the same time.

Nearly every lender has their own way of figuring out your score. The same lender can also have a different score for you depending on weather it is a mortgage, a credit card, an auto loan or a personal loan.  They all use different criteria for how they score you for the type of loan your are getting.

So in essence, you will never know exactly what your score is going to be at any given time for any given type of credit. 

It is more important to know which bracket your score falls in rather than the exact number.  

Good luck

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.