can my Vantage score be used insyead of Fico?

Hello, we only use FICO scores. There may be other lenders out there that use the Vantage score. If your middle score is 688 then you can qualify for a loan. Feel free to email me at Sarah@priorityfin.com with any questions. Thank you

Most lenders still use FICO scores.

No one will use the Vantage score. The industry has not, and probably wont for some time, accept the Vantage scores as accurate. When you apply for a car loan, your credit scores are based on the likelihood of you defaulting on a car loan.. conversely, when you apply for a mortgage, the scoring model determines your likelihood of you defaulting on a mortgage.. but when you don't apply for credit, but just want to see your score.. then the model used is different, and as you can see, is usually much higher than your actual scores.. (our industry calls it the "FAKO" score).. Also, every lender out there will run a "Tri-Merge" credit report.. using the 3 major credit reporting agencies.. Experian, Equifax, and Transunion. Your loan pricing is based on the Middle score of all 3 reports.. and strict rules disallow the lender to use a credit report that you have run.. they must obtain your credit scores on their own to prevent any impropriety. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

I've never heard of any lender using a Vantage score. I believe that model is based on a 1000 point scale where max FICO/Beacon scores depend on the reporting agency and vary in the low to mid 800's. If Vantage were used, much higher standards would be set. 688 is still generally a very workable score for most loans.

The major loan products available (Fannie Mae backed, Freddie Mac backed, FHA insured, VA insured or RD funded) do not use Vantage. Additionally, they don't use most of the FICO scores that are available for consumer purchase online. The reason for this is that there are many versions of the FICO score. The predominantly available one online is FICO version 8.0; however, the FICO version that Fannie Mae and Freddie Mac use is FICO version 4.0.While it's true that the Vantage score is getting more accurate and that FICO version 9 will be more accurate, rightly or wrongly, it's the position of Fannie and Freddie that they are not tried and tested for long enough to be accurate predictors for analysis of probability of repayment and probability of default. The good news is that you can get a high quality conventional loan with a 688 FICO and you're only 12 points below 700 where your pricing would get even better. There's a chance that with slight modifications to your revolving lines of credit, you could get there. :)

All great answers... Another way of looking at it is simply that there are multiple "credit scores" weighted to results deemed more important to the industry pulling the report. Almost all your "free" credit reports places show you you "generic" score, which is not weighted to the mortgage industry. The only one saying the Advantage Score is better, is those selling it. If the lending industry felt the same way, they would change.