Financing in 19106>Question Details

aef468, Home Buyer in Philadelphia, PA

I just pulled my credit scores from Experian, EquiFax and TransUnion. Experian has it 645, EquiFax has 588 and TransUnion says it's 592.

Asked by aef468, Philadelphia, PA Thu May 20, 2010

Which ones do lenders use? I'm guess the 590 range is more accurate? I am looking in the city of Philadelphia or possibly Collingswood, NJ.

0 votes Share Flag Financing in 19106

Help the community by answering this question:


Lenders use the middle one 592
Most FHA lenders require a 620 credit scorebut I do have lenders down to a 580 credit score.
You have two choices at this point. You can either pay a slighlty higher rate with the score that you have or repair your credit which can take between 30 and 60 days and see if you can get a better rate later. I can help you with both and our company licensed in Pennsylvania and New Jersey.

Alan Openshaw
Cornerstone Lending
215 953 0800
Cell 267 992 7276
1 vote Thank Flag Link Thu May 20, 2010
The credit score you have access to is probably not the same FICO score lenders will pull. They go with the "middle" score and it normally needs to be at least 620. If you are curious you can contact your bank and ask them to pull your credit.
1 vote Thank Flag Link Thu May 20, 2010
A lender will look at your middle score, in this case the 592.
1 vote Thank Flag Link Thu May 20, 2010
Hello Aef,

Thanks for the Thumbs Up.

I just looked at your profile and since you have a long history of good credit, your repair should be an easy fix.


Alan Openshaw
Cornerstone Lending Inc
215 674 9059
0 votes Thank Flag Link Sat May 22, 2010
You may want to attend Dave Ramsey's Financial Peace University. You can find a class here:

Dave Ramsey is a genuine guy and not a shark that may scam you and actually cause you more injury on a "credit repair" scam.

Good luck with getting on the right path.

All my best,
0 votes Thank Flag Link Fri May 21, 2010

Did you ever hear of Lexington Law? I have a friend that is an attorney in your city that used it to clean up his wife's credit. They did an amazing job in less than 6 months and both were extremely satisfied with the results.

They're really not very expensive, either. Here's their website:


Scott Miller, Realtor®
Estate Specialist
Commercial RE
Business Broker
Realty Associates
561.716.4060 direct
561.451.9377 fax
0 votes Thank Flag Link Fri May 21, 2010
Check their web

Try to attend a credit repair workshop...if you get your middle score up to 620 you can get a FHA mortgage.
I'm a Senior Loan Officer for a local east coast bank. Call me at 484-530-3588 and we can discuss your issue
0 votes Thank Flag Link Fri May 21, 2010
My income I think would prohibit some of the programs that are available, though. I make 128k a year. Is it possible to still get a loan with a PFHA?
0 votes Thank Flag Link Thu May 20, 2010
We would use your 592 as your score. If you are a first time homebuyer and you buy a home in Pa. I would get you a mortgage with PHFA( Pa. Housing Finanace Agency). Right now there 30 yrs. fixed rate is 4.950% and if you attend a PHFA first time homebuyer workshop you could get a $3K grant to help with your closing cost.
0 votes Thank Flag Link Thu May 20, 2010
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