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Here’s a big update that could make your path to homeownership way easier — and way more realistic. For the first time, Fannie Mae and Freddie Mac are getting ready to accept VantageScore 4.0 when reviewing mortgage applications. That might not sound like a huge deal… but if you’ve ever been held back by your FICO score, this could be the game-changer you’ve been waiting for. 🙌
💥 What’s Actually Changing?
Okay, here’s the scoop:
- ✅ VantageScore 4.0 will soon be accepted for mortgages
- ✅ Classic FICO scores are still good to go
- ⏸️ FICO Score 10T rollout is delayed (for now)
- ✅ Lenders still require reports from all three bureaus — Experian, Equifax, and TransUnion (a.k.a. “tri-merge”)
🧠 Why Does This Matter?
Simple: VantageScore 4.0 gives people credit where credit is due. Literally. It takes a more modern approach to evaluating your financial behavior — factoring in rent, utility, and even phone payments (as long as they’re reported). So, if your FICO score is borderline but you’ve been paying those bills on time? Your VantageScore might actually be higher.
That means more buyers may now qualify for a mortgage, and possibly get better terms too.
📊 FICO vs. VantageScore — What’s the Difference?
Let’s break it down fast:
FICO
- Used by most lenders
- Needs at least 6 months of credit history
- Not friendly to recent missed payments
- Mortgage lenders often use older versions
VantageScore
- Built by the credit bureaus themselves
- Can generate a score with just 1 month of history
- Uses more up-to-date data
- Includes rent, utilities & phone payments
- Forgives the occasional late payment
🏡 What This Means for Homebuyers (Like You!)
If you’ve ever felt boxed out of the housing market because of a few dings on your FICO, this update could be your shot at a fresh start. At Blue Water Credit, we’re already pivoting our credit repair plans to boost both scores — not just FICO — so you’ll be ready no matter which score the lender pulls.
Whether you’re buying your first home or bouncing back from past credit struggles, this shift levels the playing field.
🔑 Bottom Line: You Might Be Closer to Homeownership Than You Think
Big picture? You’ve got options. With VantageScore 4.0 on the table, you’ve now got a new door to walk through — and it just might lead to your next home.
📲 Ready to Take the Next Step?
Call or text us today at 855-935-MORE and let’s talk strategy — we’ll help you make sense of your credit and build the path to a mortgage that fits.