The Real Deal New York

Homebuyers’ FICO scores rise

Bank claims of accepting lower scores don’t hold up

October 19, 2015 04:40PM
By Kenneth Harney

Ken Harney

Kenneth Harney

From the October issue: Everybody knows how important credit scores are for obtaining a home mortgage. But are lenders lately playing a numbers game with consumers, claiming they’re willing to accept lower scores while actually approving applicants with higher scores on average than they did last year or even earlier this year?

That’s an important question for people who want to buy a home but don’t have stellar credit scores. They may have heard that there has been more flexibility on scores in recent months, but what are the facts? [more]