For Home Financing purposes, we rely on credit scores to help approve a client for their new home.  Historically, the Classic FICO score has been the “go-to” score for lenders, but that is changing!  The agencies have determined that there is more to a person’s credit than just those accounts traditionally reported to the bureaus, such as car loans, credit cards, and mortgages.  Items such as rent, utilities, cell phone, and other monthly bills also demonstrate a Borrower’s ability to repay debt.  So starting next year, lenders will be using a new credit score model that factors in a more complete credit picture of the Borrower.  That’s great news for many!  If you would like to know more, please let me know and I’m happy to share the details!