With interest rates rising and the new 2014 Qualified Mortgage rules credit scores are more important than ever.

Here are some tips for potential mortgage applicants about reviewing credit scores:

• Check your credit and scores well in advance of applying for a loan or looking for a property at www.myfico.com. Make sure to check at least 6 months to a year before shopping for a mortgage.
• You should purchase your standard Trans Union, Experian, and Equifax Fico scores.
• Usually banks take the middle of the three FICO scores. For example, if you had scores of: Trans Union Fico 755, Equifax Fico 730, and Trans Union Fico 710, the middle score would be a 730.
• If you purchase a credit score online make sure it is a FICO score. The FICO Score ranges from 300-850 points and it is the closest to the mortgage FICO score banks use. A score above a 740 is considered excellent.
• There are many scores sold online that make it very confusing for consumers. For example, there are Vantage scores which range from 501-990 with letter grades A-F, Plus Scores ranging from 330-830, Equifax scores range from 280-850, and many others. These scores can vary from a FICO score by 10-200 points. This can give consumers a false sense of what their mortgage score is.