VantageScore Rules for Joint Borrowers: One Model per Loan

As of September 11, 2026, the VantageScore model rules for joint borrowers required the same credit-score model for everyone on a Fannie Mae or Freddie Mac loan. Lenders could not combine one applicant’s Classic FICO score with another’s VantageScore 4.0 score. Freddie Mac’s original Bulletin 2026-H sets out that restriction.

For joint applicants, the useful comparison is between complete loan options: whether the lender can process the application under each model, whether it qualifies, and what the resulting offer costs.

What the September 9 expansion changed

Fannie Mae and Freddie Mac removed the requirement for prior written approval to use VantageScore 4.0, extending access beyond their limited rollout to all approved lenders or sellers for eligible loans. The change was effective immediately. Classic FICO remained available, including for lenders unready to switch. These provisions appeared in Fannie Mae’s original September 9 letter and Freddie Mac’s bulletin.

That expanded permission did not establish that every lender’s systems and processes were ready for a VantageScore transaction. For agents helping joint applicants—and readers following lender and origination developments—the practical question was whether a particular lender could turn the new option into an offer.

Joint borrowers need the same credit model

Obtaining scores under both models does not permit a lender to combine them. Fannie Mae’s September 9 Desktop Underwriter (DU) release notes retained the three-bureau, or tri-merge, credit report requirement. Lenders could order Classic FICO, VantageScore 4.0, or both, but each model ordered for one borrower had to be ordered for all borrowers on that application, according to the September 9 DU release notes.

Consider a hypothetical joint application from Maya and Theo. Assume both have scores under both models, with Maya receiving a higher number under VantageScore and Theo receiving a higher number under Classic FICO.

The two permitted combinations still require underwriting and pricing. The table establishes only which model combinations are allowed; it does not identify a qualifying loan or a cheaper offer.

Using one model also does not mean that the borrowers receive identical scores. Fannie Mae retained its existing representative-score and loan-level-score rules unless its original lender letter specified otherwise.

Manual underwriting still required Classic FICO

The underwriting route determined whether VantageScore was an option. Both Fannie Mae and Freddie Mac required manually underwritten loans to continue using Classic FICO and meeting applicable minimum-score requirements. Those limits remained in Fannie Mae’s September 9 letter and Freddie Mac’s corresponding provision.

For automated underwriting, Fannie Mae enabled VantageScore reports for DU version 12.1 submissions and resubmissions, as its September 9 integration memo confirms. Freddie Mac’s Loan Product Advisor Accept mortgages had no minimum Indicator Score requirement under Bulletin 2026-H.

Before presenting an alternative model as a solution, ask the loan officer which underwriting route the application requires. Our mortgage eligibility coverage provides broader context on conditions beyond the credit score.

Readiness must extend through loan delivery

Supporting a VantageScore application required more than obtaining scores. Fannie Mae’s September 9 integration memo identified changes to score-model names in DU findings and required updates for integrated systems that read the new VantageScore Special Feature Code 067. Those updates extended to loan origination and delivery systems, according to the integration memo.

Freddie Mac separately required delivery identifier H96 for mortgages originated and delivered using VantageScore 4.0. Delivery data had to accurately reflect the model used for underwriting and pricing, under its original bulletin.

For an operations team, a useful readiness check follows a sample application from the credit order through findings, pricing and delivery. Staff should check whether they can identify the selected model at each step and whether the receiving system preserves it. A successful score request alone does not establish that the full process works.

For agents, the practical question is whether the lender can complete the transaction using the proposed model within the contract timetable. Our mortgage underwriting technology coverage follows the systems behind those handoffs.

Why a higher score does not establish a lower cost

As of September 11, Fannie Mae directed lenders to VantageScore guidance in its loan-level price adjustment (LLPA) matrix; Freddie Mac announced separate model-specific base and custom mortgage-insurance grids. Those pricing provisions appeared in the Fannie Mae letter and Freddie Mac bulletin.

Comparing score numbers alone therefore cannot establish which option costs less. The lender needs to apply the appropriate pricing rules to the complete application. In Maya and Theo’s hypothetical case, neither person’s higher score answers the household’s borrowing-cost question.

Compare offers for the same loan amount and kind of loan, close together in time. The Consumer Financial Protection Bureau recommends examining interest rates, monthly payments, mortgage insurance, upfront loan costs and lender credits. Its loan-comparison guidance, last modified December 12, 2024, also cautions that lower tax or insurance estimates do not make a lender’s offer cheaper.

Ask the loan officer to explain any difference in points, credits or required cash alongside the monthly payment. A comparison that changes several assumptions at once cannot tell applicants what selecting another model accomplished.

Before changing an application already in progress, obtain three concrete answers: which model will cover both borrowers, which underwriting route supports it, and what written offer results.