Mortgage lenders now have more credit score options. What homebuyers should know

Catherine Delahaye | Getty There's a shift going on with credit scores in the homebuying process that consumers may want to be aware of. Mortgage lenders are now permitted to use a credit score called VantageScore 4.0 as part of their underwriting process instead of a "classic" FICO score, which has been the only approved score for decades , government officials announced April 22. At some point in the coming months, another alternative score, FICO 10T, will also be permitted. …