Credit Karma FICO and Buying a Home. Why you should contact a lender!

Hey everybody Nikki John here with
Newman Realty I have Tara Craig with the TK team senior loan officer at Amerifirst
Financial I was taking a class with her the other day and she mentioned
something really interesting about Credit Karma
Tara would you mind telling us a little bit about that absolutely so I do
mortgage planning meetings with clients all the time and they come in and
they’re always shocked to find out that the score that I pulled for mortgage
funding purposes is different than Credit Karma and so I figured since that
was asked a lot we’d go ahead and you know share with our agents so that they
could share with our clients ahead of time the importance of meeting with a
mortgage planner and having the right version of FICO pool so Credit Karma
uses something called Vantage 3.0 and it’s actually their own overlay to a
version of FICO but it’s a much newer version of FICO than what we use in
mortgage lending and so it’s really important if you have clients that are
looking to buy home in the future that they sit down with the lender and have a
tri merge credit report pulled on the correct algorithm so that we can run
simulators and give specific advice as to what they need to do to enhance your
credit score on that version of FICO so that they can get the best terms
possible oh great thank you so much you’re welcome so if you are
trying to buy a home and you are using Credit Karma to set your plan sounds
like you might need to call Tara yeah for sure so we will drop the contact
information in the context below and hopefully you’ll reach out thank you
awesome thank you

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