Which credit score does a conventional lender use?
It depends on the purpose of the score and the loan program. The score used to price a loan is not always the measure used to decide eligibility. Ask your lender which rules apply.
What this actually means.
For Fannie Mae’s representative score used in pricing, a lender generally uses the middle of three scores or the lower of two for each borrower. With multiple borrowers, the lowest representative score is used for pricing. Some manually underwritten loans use an average median score for eligibility. DU evaluates the full file and has no minimum score rule. Mortgage-insurance and lender requirements may differ; do not treat one pricing score as a universal approval test.
Where this can move.
Recent late payments, thin credit history, disputed accounts, lender overlays, and AUS findings can change the answer.
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More conventional questions on Credit.
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with Fannie Mae, Freddie Mac, FHFA, or any government agency.