Credit Score Myths When Buying a Home & Why a 780 Credit Score Doesn’t Matter

Is your credit score actually accurate or are you being misled?In this clip, we break down the biggest credit score myths, why apps like Credit Karma often show a different number than lenders use, and how credit scoring really works when you apply for a mortgage. We explain the difference between consumer credit scores vs lender FICO scores, why having a “perfect” credit score isn’t necessary to buy a home, and how small mistakes like late payments, high credit utilization, or tiny credit limits can quietly hurt your approval chances.We also cover how medical debt in collections impacts your credit score, why paying off collections doesn’t instantly raise your score, how credit utilization is calculated, and the common credit traps that keep responsible borrowers stuck. 00:00 Introduction to Credit Scores01:02 Understanding Credit Score Ranges01:52 Viewer Question: Medical Debt Impact05:14 How Late Payments Affect Credit Scores06:16 Components of a FICO Score08:20 Building Credit Responsibly09:09 Credit Utilization Traps11:17 Credit Reporting Cycles Explained