Terry Hastings

Why Is My Credit Score Different?

Terry Hastings

March 12, 2024

Did you know the credit score published on your credit card statement is NOT the score used by bankers? Why?
Fair Issac (FICO) has 16 versions of their scoring models that the three credit bureaus use. Fannie Mae, Freddie Mac and every bank I know use Fico versions 2, 4 and 5 to label your file with a score.
Your credit card statement is probably using Fico 8 …which is typically higher and encourages you to spend more !
I always recommend potential buyers go to myfico.com and pay to monitor their credit. Since you are looking at your report, it doesn’t count as an inquiry and will not lower your score. If you go on the site, be sure to look for the link to “view other versions of FICO” so you can check your mortgage scores.
Questions? Call Terry.

Terry Hastings

Aren’t bankers the same? No. After graduating college, Terry entered the real estate sales field working for his father’s company in Ridgefield, CT. He later started the Ridgefield/Redding office for Weichert Realtors and was named Manager of The Year. Terry was promoted to Regional Vice President and was in charge of Westchester and Fairfield counties. In 2002 Terry moved over to the mortgage side of the transaction, helping agents close more sales. Terry has closed over $1 billion in transactions, trained 50,000+ real estate licensees and continues to earn stellar reviews from all of his clients. Terry grew up in Ridgefield, has three daughters and is a suffering Mets Fan. Licensed in: CT, NY,DE,FL,MA,RI,SC,VA

Liyana Parker

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