So let's just say you are beginning the home search process and for our example, looking for M Street homes for sale when it comes to Dallas real estate. You will most likely begin by driving through the neighborhood or checking out some currently active listings on website like Estate Chase. This is how it starts for most buyers, but then once you get a little more serious you have to get prequalified. Once you get there, you find that property your lender will get you preapproved. One of the big factors in getting this done is having a lender pull your credit report, but did you know that it may not be the big three credit scores (Experian, TransUnion, Equifax)?
That's right! You have 49 different credit scores that a lender can look at to determine how risky you are as a borrower. Based on the type of loan you are applying for the lender can choose from all different kinds of scores. For example, you have an auto car loan score, a bankzone score for credit cards, a FICO mortgage score and many more. Your lender is going to choose the score that they feel is most appropriate for your loan.
Check out this infographic on how many credit scores you have.
Click "You have 49 FICO credit scores" to read the full article by Blake Ellis.
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