You have three credit scores, one from each bureau, but a mortgage is approved on one. That one is the representative credit score. FHA calls it the minimum decision credit score. Either way, it's the number that decides your down payment, which programs are open and how your mortgage insurance is priced.
How the single score is picked
For each borrower:
- Three scores: the middle one counts.
- Two scores: the lower one counts.
- One score: that score counts.
With more than one borrower, the lender finds each person's middle score and uses the lowest of them for the loan.
Two borrowers, one score
| Equifax | Experian | TransUnion | Middle score | |
|---|---|---|---|---|
| Tasha | 604 | 588 | 617 | 604 |
| Chris | 655 | 672 | 690 | 672 |
The loan's representative score is 604, the lower of the two middle scores. Chris's strong credit doesn't lift it.
On FHA, 604 clears the 580 mark for 3.5% down, so the pair can buy together. On Conventional, 604 is below the 620 minimum. If Chris's income carries the payment alone, he can apply alone at 672 and qualify for Conventional. On certain manually underwritten Conventional loans, Fannie Mae averages the middle scores for the minimum-score check (604 plus 672 is 1,276, and half of that is 638), though pricing still runs on 604.
What the number decides
| Score | What it opens |
|---|---|
| 500 to 579 | FHA with 10% down |
| 580 and up | FHA with 3.5% down, and FHA 100% financing with down payment assistance |
| 620 and up | Conventional with 3% down on a single-family home |
| Higher tiers | Lower Conventional PMI, from roughly 1.50% a year near 620 down to 0.46% at 760 and up |
VA doesn't set a minimum score of its own, so the floor comes from the lender.
Raising it before you apply
Card balances are the fastest lever. Paying them down to a small share of the limit often moves the middle score more than anything else, and a rapid rescore can get the new balances reported in days. Errors on one bureau, such as an account that isn't yours, can be disputed with that bureau, and the tri-merge credit report shows exactly which bureau is dragging the middle score down.
See where your score lands by program in the credit score requirements guide. To find out which score the lender will use, and what it would take to move it, call AAA Capital Funding at 888-601-8344.