On April 22, 2026, the Federal Housing Finance Agency (FHFA) and the U.S. Department of Housing and Urban Development (HUD) announced that Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA) will accept two new credit score models — VantageScore 4.0 and FICO 10T — alongside the Classic FICO model used in mortgage underwriting for decades.
Florida lenders approved for the limited rollout can use VantageScore 4.0 immediately for conventional loans sold to Fannie Mae and Freddie Mac, while broad availability and FICO 10T adoption will continue rolling out through 2026 and into 2027.
Both new models use trended credit data and can incorporate on-time rent payment history, helping Florida renters, self-employed borrowers, and thin-file buyers qualify who would not have scored well under Classic FICO.
Whether your Florida mortgage application is scored using Classic FICO, VantageScore 4.0, or FICO 10T depends on your lender, the loan program, and the timing of your application.
What just changed for Florida mortgage applicants
If you have been paying rent on time in Miami, Tampa, or Jacksonville for years but feel locked out of homeownership because your credit score never quite reflected that effort, the rules just shifted in your favor. On April 22, 2026, federal regulators approved two newer credit score models — VantageScore 4.0 and FICO 10T — for use by Fannie Mae, Freddie Mac, and the FHA.
These models can look at on-time rent payments and a fuller picture of how your balances have moved over time, not just a snapshot of what you owe today. This is the biggest change to mortgage credit scoring in decades, and it is rolling out in stages, not overnight.
Here is what the change means for Florida buyers, who benefits first, and what to do this month. For background, see how credit scores affect Florida mortgages.
Quick start: pick your path
Not every Florida buyer is in the same boat. Use this short list to find your starting point.
Ask your Florida lender about VantageScore 4.0 — it can score you using on-time rent payment data that Classic FICO ignores.
Trended credit data in both new models rewards consistent paydown, so even a six-month track record of declining balances can lift your score.
Stay the course. Switching models mid-application can delay your closing — talk to your loan originator before changing anything.
FICO 10T historical data publishes in summer 2026, with broader adoption following. Build your file with rent and utility reporting now to find the right Florida loan path.
Why mortgage credit scores just changed in 2026
The shift to new mortgage credit score models did not happen overnight. The Credit Score Competition Act of 2018 directed the FHFA to find a way for Fannie Mae and Freddie Mac to use more advanced credit score models. After several years of testing, the FHFA validated VantageScore 4.0 and FICO 10T in 2022.
Fannie Mae and Freddie Mac are not lenders themselves. They are government-sponsored enterprises (GSEs) that buy mortgages from lenders, package them, and resell them — so the rules they set effectively shape what most Florida banks and brokers can do.
Right now, only approved lenders in the limited rollout can deliver VantageScore 4.0 loans to Fannie Mae and Freddie Mac. Lenders not participating must continue using Classic FICO through a tri-merge credit report — a credit report pulled from all three bureaus: Equifax, Experian, and TransUnion. Broader access will follow throughout 2026. For related federal rules, see the 2026 Florida conforming loan rules.
How FICO 10T and VantageScore 4.0 differ from Classic FICO
Trended credit data is the single biggest mechanical difference. Trended credit data means looking at how your balances and payments have moved over the last 24 months — not just what you owe today. A buyer who has been steadily paying down a $5,000 credit card balance often looks better under FICO 10T or VantageScore 4.0 than under Classic FICO, even though all three use the same 300–850 score range.
The second major difference is alternative data. VantageScore 4.0 can incorporate on-time rent and utility payments when reported to the credit bureaus through a verified service. FICO 10T also factors in rental payment history when reported. Classic FICO does neither.
Classic FICO vs. FICO 10T vs. VantageScore 4.0
| What it considers | Classic FICO | FICO 10T | VantageScore 4.0 |
|---|---|---|---|
| Score range | 300–850 | 300–850 | 300–850 |
| Trended credit data 24-month balance trajectory | No | Yes | Yes |
| Rent payment data When reported to bureaus | No | Yes | Yes |
| Utility & telecom data | No | Limited | Yes |
| Medical collections weight | Higher | Lower | Lowest |
| Mortgage approval status For Fannie / Freddie loans | Available | Approved · future rollout | Available · limited rollout |
For Florida buyers, two rows matter most. Rent payment data inclusion helps Miami, Orlando, and Tampa renters who have paid on time for years without that effort showing on a Classic FICO pull. Trended credit data helps anyone actively paying down debt, including self-employed borrowers and graduates rebuilding their files. Your loan originator can show you how your file compares across the three models during pre-approval.
What this means for Florida buyers across loan types
The April 22, 2026 announcement does not change every Florida mortgage equally. Here is how it lands across the loan programs Pegasus most often arranges.
Conventional loans (Fannie Mae and Freddie Mac)
Approved lenders in the limited rollout can now use VantageScore 4.0 for conventional loans sold to Fannie Mae or Freddie Mac. FICO 10T is approved but its broad use is pending publication of historical data in summer 2026. Most Florida conventional applicants are still scored on Classic FICO until their lender opts in.
FHA loans
HUD announced that the FHA will permit FICO 10T and VantageScore 4.0 for FHA-insured mortgage underwriting in the months ahead. FHA loans are the most common path for first-time Florida buyers because of the lower down payment and credit score thresholds. The change is significant for renters who can now have on-time rent factored in.
VA loans
VA loans follow Department of Veterans Affairs criteria and are not directly tied to the FHFA announcement. VA-eligible Florida buyers should ask the Pegasus USA lending team how their credit will be assessed under their specific VA scenario.
Jumbo and non-QM loans
Jumbo loans (above the conforming limit) and non-QM loans for self-employed borrowers and foreign nationals are underwritten to lender-specific criteria. The new models may flow into these programs over time, but adoption is uneven. To compare options, see how to choose the right Florida loan program.
Which Florida loan programs accept the new credit score models
Step-by-step: how to use the new credit score models to your advantage
If the new models could help you, here is the practical sequence to follow this month.
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1
Pull all three credit reports and verify your tri-merge Order your reports from Equifax, Experian, and TransUnion at AnnualCreditReport.com. Look for errors, outdated collections, and accounts that should not be on your file. Disputing inaccuracies is free and can lift your score under any model.
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2
Enroll in a rent reporting service if you have at least 12 months of on-time rent Services like Experian Boom, RentReporters, and Esusu can report your rent history to the bureaus. This is the fastest way to make on-time rent count toward a VantageScore 4.0 or FICO 10T pull. Rent reporting is not automatic — you have to opt in.
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3
Reduce revolving balances below 30% utilization, ideally under 10% Utilization (the percentage of your credit limit you are using) is heavily weighted in every credit model. Trended data rewards a downward trend, so consistent paydown matters more than a one-time payoff right before applying.
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4
Ask your Florida lender which credit models they pull Ask whether they participate in the VantageScore 4.0 limited rollout, and what their plan is for FICO 10T. If your lender is not in the rollout, you will be scored on Classic FICO regardless.
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5
Get pre-approved before you start house hunting Pre-approval anchors the credit pull and the model used at closing. The Pegasus mortgage loan process walks you through this step by step.
Credit score modernization rollout timeline
Common mistakes Florida buyers are making right now
Even informed buyers are getting tripped up by the new rollout. These are the most common mistakes Florida applicants are making right now.
- Assuming the new models apply to every loan type immediately. They do not — VA loans, jumbo loans, and most non-QM loans use different criteria, and most lenders are still in limited rollout for conventional and FHA.
- Switching credit-monitoring apps mid-application. The score on a free consumer app is rarely the same model your Florida lender pulls — app scores can be 20 or 30 points off from what your underwriter sees.
- Closing old credit cards to "clean up" before applying. Length of credit history matters under all three models — old accounts often help your score, and closing them can hurt utilization.
- Believing rent reporting is automatic. On-time rent only counts if it is reported to the credit bureaus through a verified service. Just paying rent does not get you credit.
- Shopping multiple lenders without understanding rate-shopping windows. Multiple mortgage inquiries within roughly 14 to 45 days are typically treated as one event, but rules differ between models.
- Waiting indefinitely for FICO 10T. Broad availability is months away, and Florida insurance costs and rate movement may erase any benefit from a higher score model. For more first-time buyer mistakes to avoid, see our dedicated guide.
Frequently asked questions
Which credit score model is your Florida lender likely using?
| Your situation | Most likely model today | What to ask your loan originator | When this may change |
|---|---|---|---|
| Florida conventional buyer with mainstream lender | Classic FICO via tri-merge — unless your lender has joined the VantageScore 4.0 limited rollout | "Are you participating in the FHFA VantageScore 4.0 limited rollout for conventional loans?" | As broad availability arrives later in 2026 |
| FHA borrower | Classic FICO today; FICO 10T and VantageScore 4.0 rolling out in months ahead | "When will you start using FICO 10T or VantageScore 4.0 for FHA underwriting?" | As HUD completes FHA implementation |
| Self-employed or non-QM applicant | Lender-specific — often Classic FICO with bank statement or asset-based underwriting overlay | "Which credit model do you use for non-QM, and do you accept VantageScore 4.0?" | Adoption timing varies by lender |
| Foreign national buyer | Often outside the standard credit scoring framework — alternative credit and asset-based qualification typically apply | "What credit and asset documentation do you accept for foreign national loans in Florida?" | Not directly affected by the announcement |
What are FICO 10T and VantageScore 4.0, and how are they different from Classic FICO?
Can I now use VantageScore 4.0 to qualify for a mortgage in Florida?
Does the FHA accept FICO 10T and VantageScore 4.0 for FHA loans?
Will my on-time rent payments help me qualify for a mortgage under the new credit score models?
When did Fannie Mae and Freddie Mac start accepting VantageScore 4.0?
Will the new credit score models lower my mortgage interest rate?
How do I find out which credit score model my Florida lender uses?
Should I wait to apply for a Florida mortgage until FICO 10T is fully implemented?
See which credit score model fits your file
A short conversation with a licensed Florida loan originator can tell you whether VantageScore 4.0, FICO 10T, or Classic FICO will work best for your situation — and what to do this month.
Start your applicationAbout the author
Pegasus Lending Team
Mortgage Professionals · Pegasus Mortgage Lending (USA) · Miami, Florida
The Pegasus Mortgage Lending USA team is based in Miami, Florida, and specializes in helping homebuyers, investors, and foreign nationals navigate the Florida real estate market. With expertise spanning FHA loans, conventional mortgages, jumbo financing, VA loans, and Foreign National programs, the team guides clients through every step of the mortgage process with clarity and transparency.
Meet the Pegasus USA Team →Sources & References
- Federal Housing Finance Agency — Homebuying Advances into New Era of Credit Score Competition (April 22, 2026). fhfa.gov
- Federal Housing Finance Agency — Credit Scores policy page. fhfa.gov/policy/credit-scores
- U.S. Department of Housing and Urban Development — HUD No. 26-026. hud.gov
- Fannie Mae — Credit Score Models and Reports Initiative. singlefamily.fanniemae.com
- Freddie Mac — Freddie Mac Begins Accepting VantageScore 4.0 (April 22, 2026). freddiemac.gcs-web.com
- AnnualCreditReport.com — Free annual credit reports. annualcreditreport.com
- Consumer Financial Protection Bureau — Credit reports and scores. consumerfinance.gov