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A top housing finance regulator announced that Fannie Mae and Freddie Mac would allow lenders to use the traditional FICO score or one from a rival, VantageScore.

Your credit score helps determine if you’ll qualify for a loan and what interest rate you’ll get. For mortgages, which are often the biggest loans most people will take out, the score can translate to thousands of dollars in savings — or higher costs — over the life of the loan.

Mortgage lenders will soon have the choice to use either a traditional FICO score or an updated version from a rival, VantageScore, to evaluate a borrower’s creditworthiness, a top housing finance regulator announced this month.

The post on X came from William Pulte, director of the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, two mortgage finance companies that play a crucial role in the market for home loans. (Fannie alone owns

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