FICO 8 vs. Mortgage FICO: The 50-Point Trap
Автор: Ten Dollar Credit Repair
Загружено: 2025-12-12
Просмотров: 49
Описание:
FICO 8 vs. Mortgage FICO: The 50-Point Trap 🏠📉
Why does your credit app show a **690**, but your mortgage lender sees a **645**?
In this video, I break down the critical difference between *FICO 8 (consumer scores)* and *Mortgage FICO models 2, 4, and 5**—and why this *“50-point trap” is one of the most common reasons homebuyers are denied.
If you’re planning to buy a home, *this is information you must understand before applying.*
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✅ In this video, you’ll learn:
• Why mortgage lenders use older FICO models
• Why Experian Boost & rent reporting don’t help mortgages
• How “thin files” cause automatic denials
• Why *paid collections still hurt* mortgage approvals
• Prime vs. Non-Prime vs. Subprime—and how it affects rates & down payments
• How *FCRA 611 & 623* fit into strategic dispute methods (Chapters 7–12)
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Step-by-step dispute strategies referenced in this video.
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🔗 WATCH FIRST (Previous Video in the Series)
*Why Your Credit Karma Score Is Wrong (FICO vs Vantage)*
👉 • Why Your Credit Karma Score Is Wrong (FICO...
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📜 Video Transcript (SEO)
00:00 We are now on the second video in the series, the FICO series. My name is Raoul Cannon. I have 25 years in credit repair. I'm the author of Ten Dollar Credit Repair: The Ultra Edition. I'm a former bank underwriter. Let us talk about mortgages.
00:24 Mortgages use FICO models 2, 4, and 5. These models are older, which means consumer tools like Experian Boost and rent reporting do not help when applying for a mortgage.
01:00 Mortgage lenders focus heavily on payment history and credit mix. They want established installment accounts and revolving credit with strong history.
01:45 You may see a 690 on your credit app, but your mortgage lender may see a 645 due to how these models weigh risk.
02:15 These models place additional weight on late payments, charge-offs, utilization, and hard inquiries.
03:15 How to reduce utilization through credit limit increases or pay-downs.
04:27 Paid and unpaid collections both matter when applying for a mortgage.
05:22 Thin files trigger denials even with high scores.
06:19 Proper use of secured tradelines when rebuilding credit history.
07:05 Prime vs. Non-Prime vs. Subprime explained.
08:23 Why collections are heavily scrutinized due to lien risk.
09:05 Mortgage-focused dispute priorities.
09:32 Using FCRA 611 and 623 dispute strategies.
10:03 Freezing secondary bureaus and removing old addresses.
10:39 Next video preview: *FICO 8 & Bankcard models.*
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#CreditRepair #MortgageFICO #FICOScore #HomeBuying #MortgageTips
#CreditEducation #CreditStrategy #TenDollarCreditRepair #FCRA
#MortgageApproval #FirstTimeHomeBuyer #CreditDisputes
#BankUnderwriter #FinancialEducation #WealthBuilding
#RealEstateCredit #FixYourCredit #CreditGame #RaoulCannon #FICOSeries
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