HouseAmp's lending partners use the Experian VantageScore 4.0 model when evaluating financing applications. This article explains what that model is, how it differs from FICO, and what it means for your application.
VantageScore 4.0 was developed jointly by the three major credit bureaus — Experian, Equifax, and TransUnion. Like the FICO score, it uses a range of 300 to 850. However, the factors it uses to calculate your score and the weight it gives each factor are different from FICO.
| Payment History — 40% Whether payments are made on time or late. The single most important factor. Consistent, timely payments have the greatest positive impact on your score. |
| Depth of Credit — 21% The age of your credit accounts and the variety of credit types you hold. |
| Credit Utilization — 20% The ratio of credit used to total credit available. A utilization rate above 0% but below 30% is considered favorable. |
| Recent Credit Behavior — 11% Newly opened accounts and recent hard inquiries on your credit report. |
| Balances — 5% Remaining balances on current and delinquent accounts. |
| Available Credit — 3% The total amount of credit available to you on revolving accounts. |
VantageScore 4.0Range: 300–850 | FICO ScoreRange: 300–850 |
💡 Important: Because VantageScore and FICO use different methodologies, the same individual can have meaningfully different scores between the two models. If your FICO score is strong, your VantageScore 4.0 may differ. If you are concerned about your eligibility, see the related article: How to Unfreeze or Unblock Your Credit.
HouseAmp's lending partners pull your Experian VantageScore 4.0 as part of the application review. The most impactful things you can do to support a favorable score are to maintain on-time payment history, keep credit utilization below 30%, and avoid opening new credit accounts immediately before applying.