What is the Credit Score Scale for Mortgages?

There are numerous credit score models. 80-90% of all mortgage financial institutions use the FICO credit score model in their decision process. Other score ranges can offer insight into your FICO score, but why risk it?

Here’s a bad scenario: You check your non-FICO a few months before you ready to close on a mortgage and your score is a 770. What you may not know is that the 770 may be out of 990, and therefore your FICO score is much lower…as low as 720. Your broker informs you that you don’t get the best rate possible because your FICO isn’t high enough. Bummer. If you had known your FICO score months before, you could have worked on getting a higher score before you needed to close.