Why is my score different than what it says online?

This weeks Question comes from a client in Indian Trail NC.

Why is my score different than what it says online?  Probably the number one question we get these days.  Monitoring your credit has become common and even a competition in some households!  At last glance there were 20+ available models all possibly giving you a wide variation of score.  For instance, your online could read 720, a car dealer may have you at 730 and your mortgage company at 710.  Keep in mind that most of the free online systems and FICO monitoring systems available from credit card issuers are quite different generally furnishing only one specific model.  Different algorithms are utilized for the different models, each is specific to the industry that they cater to.  In the mortgage industry utilizes the mid score of all 3 of the repositories and are used with a model that is required for acceptance on the secondary market.

Every situation is different, Call or email Chris or Bob if you would like a personalized tips and tricks to improve your score with little effort.

Chris Conlon cconlon@afncorp.com 704-609-5017

Bob Parm bparm@afncorp.com 704-778-2603

We get a lot of questions, many from very seasoned buyers who have purchased several homes.  If you have a question, please email cconlon@afncorp.com and we may use it in an upcoming article.