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WHAT FICO MODEL DO YOU LOOK AT FOR FHA
THERE ARE VARIOUS DIFFERENT FICO MODELS. WHAT FICO MODEL DO YOU LOOK AT FOR FHA.
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In the case of Federal Housing Administration mortgages, the standard practice for lenders is to employ FICO Score models 5, 2, and 4. These represent the versions used by the three major credit bureaus as follows:
Experian: FICO Score 2
Equifax: FICO Score 5
TransUnion: FICO Score 4
These are a little older and sometimes used because they are more conservative. They better reflect what a lender wants to know about your credit history. Additionally, ensure that you ask your mortgage officer what version they need to approve an FHA loan for you.
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