Fannie Mae and Freddie Mac opened VantageScore 4.0 to all approved lenders on Sept. 9, expanding the alternative credit model across eligible mortgages sold to the government-sponsored enterprises. The change eliminated the earlier approval step for participating lenders. Lenders can now choose between VantageScore 4.0 and Classic FICO for eligible loans rather than moving the entire mortgage market to one new standard.
New research published Sept. 11 offers a closer look at how those models compare. VantageScore 4.0 and FICO 10T averaged about 13 points above Classic FICO across roughly 27.5 million mortgages, while all three models effectively ranked borrowers by default risk.
Fannie and Freddie end the limited VantageScore rollout
VantageScore 4.0 entered a limited rollout in April 2026 before Fannie Mae broadened availability in September. Classic FICO remains available, and lenders must use the same scoring model for every borrower on a given loan rather than mixing Classic FICO and VantageScore 4.0.
VantageScore 4.0 is not currently eligible for manually underwritten Fannie Mae loans, which must continue using Classic FICO. Fannie Mae has also updated its loan-level price adjustment framework for loans using VantageScore 4.0. FICO 10T has been approved for future use but is not yet eligible for Enterprise loan delivery; additional guidance is expected before implementation.
How VantageScore 4.0 can affect mortgage pricing
Different models can assign different scores to the same borrower, potentially moving an applicant into another pricing band. A higher VantageScore does not automatically mean a lower rate or cheaper closing costs, particularly while mortgage rates and lender quotes continue to move. In research published Sept. 11, VantageScore 4.0 and FICO 10T both averaged about 13 points above Classic FICO. About 31% of loans scored 800 or higher under either newer model, compared with 14% under Classic FICO.
All three models still ranked default risk effectively. A higher numerical score under another model does not mean the borrower’s underlying financial risk has changed, and credit score is only one part of mortgage underwriting.
What agents should ask their lenders
Agents do not choose the scoring model, but they can ask whether a lender uses VantageScore 4.0 for eligible Fannie Mae or Freddie Mac loans and whether the score changes a buyer’s pricing tier. They can also ask how any difference would appear in the quoted rate, points, or fees.
VantageScore 4.0 uses trended credit data and can consider rental-payment history when that information appears in a credit file. Rental data is not reported for every tenant, however, so renters should not assume the model will automatically improve their score.
For clients who previously fell just short of a qualification or pricing cutoff, the broader availability of VantageScore 4.0 may justify another conversation with a lender. It does not guarantee a higher score, mortgage approval, or better loan terms.