It is the same formula sold under three different service marks. The result should be the same. But they virtually never have the same data.
Over time your data at each CRA may stay the same, but each CRA will still have different data, and therefore yield a different score.
I predict that the scores will stay the same. Revolving credit affects your score, but mortgages generally don’t. Late payments OTOH . . .
If you have more questions, feel free to e-mail me. I’d be curious to find out if my prediction is correct.
BTW. Here is a link to a nifty FICO score estimator. You can punch in your situation before and after a second and get a feel for how your score will look.
It didn’t let me enter multiple mortgages, though. I guess that’s pretty much a sign that it doesn’t matter given the history.
So… I guess the only bad part of my credit situation will be the debt-to-income ratio until the first house sells. Anyone in the Detroit area suburbs interested?
Yeah. Notice the questions. It does ask when you got your last loan, and if you have any lates, etc. It doesn’t ask how much you owe total. And it doesn’t ask how many mortgages you have. Because it doesn’t matter.
Because the CRA’s don’t know your income, the FICO score can’t incorporate that. So DTI must be calculated by the lender. FICO mostly looks at whether you are delinquent and whether you are maxed out on your revolving credit.
Yeah. Depending on your income, it would probably be difficult to finance a third house or a luxury car right now.
I’m not looking for a property in the Detroit area suburbs, but I can hook you up with financing if you don’t already have a mortgage lender.
Thanks for the offer – I already got a lender out in Novi! Should be closing in two to three weeks. (Then it’ll be rice and beans for a little while – well worth it even if we’re poor for a while.)
