Beware mortgage seekers: Online credit scores not always reliable

Source: Kenneth Harney, Washington Post (Paid Registration)

When is your “credit score” irrelevant in buying a house or refinancing a mortgage? A new federal legal settlement with a major credit bureau has the answer: The only score that matters is the one your lender uses to evaluate you, not some random score you got on a website.

All the others you might buy or see — there are dozens of them hawked on the Internet — may be interesting, but they won’t affect the interest rates you’re quoted, the fees you’re charged or whether your application gets approved or rejected.

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