Experian Boost Users: Read This Article

Many people have been using Experian Boost to raise their FICO credit scores. It's a free service provided by Experian to boost consumer’s credit scores and it works. The way it works is that the consumer will self-report their utility bills, subscriptions, phone bills, etc. to show that they can be accountable by making their payments on time. The average FICO score boost is around 14-21 points per borrower but it can be more or less than that.

The problem with Experian Boost, at least for the mortgage industry, is that we cannot use this type of FICO credit scores to get a loan. We use your residential mortgage credit report score (RMCR), which does not include things like utility bills, subscriptions, phone bills, etc. In other words, this will not help you to increase your mortgage credit score.

In order to improve your mortgage credit score or anything at all about mortgages, please call us at Chissell Mortgage Group at 727-376-6900.

NMLS ID: 327290; NMLS ID: 2062741

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