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Credit Karma vs FICO Score: What Kentucky Homebuyers Must Know (2026) Home › Blog › Credit & Buying Tips › Credit Karma vs FICO Score Credit & Home Buying Tips Credit Karma vs FICO Score: What Every Kentucky Homebuyer Must Know (2026) Credit Karma is convenient — but the score it shows you is not what mortgage lenders use. Millions of Kentucky homebuyers have been misled by this gap. Here's the truth about your mortgage credit score before you apply. ✍️ Joel Lobb , Mortgage Broker FHA, VA, KHC, USDA 📍 Louisville, Kentucky 🏦 NMLS #57916 | Company NMLS #1738461 Updated March 11, 2026 📋 In This Article Credit Karma Uses VantageScore — Lenders Use FICO FICO Score Range & Kentucky Loan Minimums Which FICO Score Do Mortgage Lenders Actually Use? How the Mid...

Which FICO Score Generation Do Mortgage Lenders Use? The best-known credit scores are going to fall under either the  FICO or VantageScore brands. There are multiple generations of each score brand, as every few years, the score developers create newer versions. So, for example, there’s a VantageScore 1.0, 2.0, 3.0, and 4.0. In most lending environments outside of mortgages, it’s hard to know which specific credit score a lender will use to evaluate your application. And, even if you knew your lender used a FICO Score or a VantageScore credit score, you still would not know which generation of the score it is using. For example, you may apply for an auto loan with one lender that checks your FICO Auto Score 8 based on your Experian credit report. Yet, if you apply for financing with a different auto lender, it may opt to check your VantageScore 3.0 score based on TransUnion data. The only way to know for sure is to ask the lender which credit report and which credit score version ...

 W hat is a good FICO Score for Mortgage Loan Approval? FICO Scores generally range from 300 to 850, where higher scores demonstrate lower credit risk and lower scores demonstrate higher credit risk (note: some types of FICO® Scores have a slightly broader range).  What’s considered a “good” FICO® Score varies, since each lender has its own standards for approving credit applications, based on the level of risk it finds acceptable. So one lender may offer its lowest interest rates to people with FICO® Scores above 730, while another may only offer it to people with FICO® Scores above 760. The chart below provides a breakdown of ranges for FICO® Scores found across the U.S. consumer population. Again, each lender has its own credit risk standards, but this chart can serve as a general guide of what a FICO® Score represents.

  Consumer Reporting Agencies to Remove Most Medical Debt From Credit Reports The three nationwide credit reporting agencies, Equifax, Experian and TransUnion, announced that effective July 1, 2022, they will no longer include medical debt that was paid after it was sent to collections on consumer credit reports. The companies’ CEOs provided a joint statement on the decision to change their approach to medical collection debt reporting: “Medical collection debt often arises from unforeseen medical circumstances. These changes are another step we’re taking together to help people across the United States focus on their financial and personal wellbeing,” said Mark W. Begor, CEO Equifax; Brian Cassin, CEO Experian; and Chris Cartwright, CEO TransUnion. “As an industry we remain committed to helping drive fair and affordable access to credit for all consumers.” The time period before unpaid medical collection debt would appear on a consumer’s report will be inc...

  Fannie Mae announced that their Automated Underwriting System will now take an AVERAGE of the two scores for qualifying Do you and your partner have very different credit scores? Great news! You may have access to more loan program options than you thought! Here's the deal... All lenders pull FICO scores from each of the three credit bureaus to qualify a borrower. In situations with co-applicants, we will use the lower of the two middle scores for qualifying purposes. Historically, to do a Conventional Loan, both mid-scores would have to be above 620. Effective on 9/18/21, Fannie Mae announced that their Automated Underwriting System will now take an AVERAGE of the two scores for qualifying. This critical change may help many borrowers qualify and have increased advantages when putting an offer in on a home. Long story short - we can help you now more than ever. Curious if this will help you? Reach out to me today, and we can investigate. PS: These changes are effective Sep...