How can there be such a wide gulf between my Trans Union (676) and Equifax (746) scores?

Asked by Chris, 11211 Wed Aug 19, 2009

I was told that I can't get a loan with mortgage insurance because I need a 720. I have a collection that just went on there that I didn't know about and paid off today. How long will it take to get me up to a 720?

Help the community by answering this question:

+ web reference
Web reference:


Vicky Chrisn…, Agent, Purcellvile, VA
Sat Oct 10, 2009
Learn more about credit scores here:
0 votes
Grace Hanamo…, Agent, Cupertino, CA
Wed Aug 19, 2009
Hello Chris and thanks for your email.

Each of the three (3) credit reporting companies, Trans Union, Equifax, and Experian use different data to create their FICO scores, but the percentages for determining FICO remain relatively constant. As a result, you're likely to have a high score with one, a low score with another and middle range score with the third. When a mortgage broker or lender states that the minimum FICO for a conventional loan is 720, they are actually referring to a "mid score" rather than just one score. The mid-score or "middle score" is actually calculated by taking your highest score of the three agencies, the lowest score of the three and finding the score in the middle. Thus, if Experian is 700, Equifax 720 and TransUnion is 760, then the middle score is 730--halfway between the highest and lowest value.

At present, if your highest credit score is 746 and your lowest is 676, then your middle score is 711--just a tick away from where you need to be.

Work with your loan broker to have the recently paid debt and verification of payment noted to your account. In some cases, the lender can get your FICO rescored in one to two days. However, you'll need to provide to the broker a copy of the receipt showing the payment received in full by the vendor who filed the claim.

Good luck!!

Grace Morioka
Area Pro Realty
0 votes
Sean Dawes, , Philadelphia, PA
Wed Aug 19, 2009
Did you call Trans Union and ask them to remove it? You gotta get on the phone and contact these places if there are errors on your report.

As far as time frame before its removed. I would consult a credit person or even ask Trans Union.

Sean Dawes
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more