A new credit scoring system could help more people qualify for a home.

A new credit scoring system could help more people qualify for a home.

It’s called VantageScore
and more lenders may start using it in their underwriting process.

Why this matters:
Some buyers may benefit from:

shorter credit history consideration

utility payment reporting

scoring models that differ from traditional systems

Potential advantage:
At least for now, some lenders may be able to use
the stronger score between models.

That could create more opportunities for certain buyers.

Credit scoring is evolving
and understanding your options matters more than ever.

Comment “GUIDE” if you want help understanding how your credit may impact homebuying.

Disclaimer:
Lender guidelines and scoring model usage vary. Qualification is not guaranteed.

#creditscore #mortgagetips #homebuying #realestateeducation #financialliteracy

Видео A new credit scoring system could help more people qualify for a home. канала Julie Ozanich