By Debra West, Broker | The Debra West Team, RE/MAX Elite Group | Last updated November 8, 2026

Not everyone has perfect credit. Someone may have paid rent faithfully for years but have very few credit cards. Another may have rebuilt after a divorce or job loss. A younger buyer may have avoided debt and, ironically, have little credit history to show for it.

In more than three decades in real estate, I've seen how often a credit score tells only part of the story. At The Debra West Team, we work with buyers like these every day, and these changes could help more of them be evaluated fairly. The goal isn't to lower lending standards. It's to create a more complete picture of the borrower.

What Changed With Mortgage Credit Scores?

For decades, most mortgages relied on one model, Classic FICO. That is starting to change:

• Conventional loans: Fannie Mae and Freddie Mac now allow approved lenders to use VantageScore 4.0 for eligible loans. Lenders that aren't operationally ready can continue using Classic FICO, so the model you're scored with depends on your lender.
• FHA loans: HUD's Mortgagee Letter 2026-11 adds VantageScore 4.0 and FICO Score 10T for case numbers assigned on or after January 1, 2027. FHA's minimum credit score thresholds stay the same regardless of the model.

Classic FICO isn't going away. Lenders simply have more approved options.

How Are Classic FICO, VantageScore 4.0 and FICO 10T Different?

• Classic FICO is the long-standing mortgage model most lenders have used for years.
• VantageScore 4.0 is a newer model that uses trended credit data and can include rent and other payment history when it's reported.
• FICO Score 10T is FICO's newer model. The "T" stands for trended data.

Newer models can consider how your credit use changes over time, alongside your current credit history.

What Is Trended Credit Data?

Trended data shows how your credit behavior changes over time. Imagine two buyers who each have a $5,000 credit card balance today:

• Buyer A owed $12,000 a year ago and has steadily paid it down.
• Buyer B owed $1,000 a year ago and has steadily added to it.

Same balance, very different habits. A single snapshot can't see that difference, but trended data can.

What Could This Mean in Wichita Falls?

In Wichita Falls, median gross rent is about $1,022 a month, according to the U.S. Census Bureau. A renter who pays that on time for five years has made more than $61,000 in housing payments, yet a traditional credit file may not reflect them unless that rent was reported.

About 56% of Wichita Falls homes are owner-occupied, so a large share of local households rent. Our buyers include first-time buyers, military families from Sheppard Air Force Base, longtime renters and people rebuilding after major life changes. Many are closer to homeownership than they think.

Sellers benefit, too. A larger pool of responsibly qualified buyers can mean more opportunities when it's time to sell.

What If I've Been Told "No" Before?

Don't disqualify yourself. Ask yourself:

• Were you told "no" in the past, but haven't checked recently?
• Do you pay rent on time but have little credit history?
• Have you rebuilt your finances after a difficult season?
• Are you sure the score in your credit-card app is the one a lender will see?

Income, debt, job stability and savings still matter, and someone who is currently missing payments may not be ready yet. But a qualified mortgage professional can look at the whole picture. The answer may be "You're ready," "You're closer than you thought," or "Here's what to work on." All three answers are valuable.

Frequently Asked Questions

Which credit score will my lender use?

It depends on the lender and loan program. Ask which model they use and whether another is available for your loan.

Will the new scores lower my interest rate?

Not necessarily. Your rate depends on your overall credit, down payment, loan type and the market. A different model may change your score in either direction.

Does rent count toward my credit now?

It can, when your rent payments are reported to the credit bureaus. Ask your landlord or lender how your rental history is reported.

Do I need to do anything right now?

If you're thinking about buying, the best next step is a conversation with a local lender to see where you stand.

This article is for general educational purposes and is not financial or lending advice. Programs and guidelines change and vary by lender and borrower. Please consult a qualified mortgage professional about your situation.

Sources: Fannie Mae Lender Letter LL-2026-06 · Freddie Mac Credit Score Models · FHFA Credit Scores · HUD Mortgagee Letter 2026-11 · U.S. Census Bureau QuickFacts, Wichita Falls

The Debra West Team | RE/MAX