Equifax Introduces Competitive Mortgage Credit Pricing to Benefit Consumers and Lenders

Equifax Introduces Competitive Mortgage Credit Offerings

Equifax is embarking on a transformative path in the mortgage credit landscape with its latest initiative to reduce costs for American homebuyers and support the mortgage industry. The notable change comes as the company reacts to the increasing monetary burden placed on homebuyers by major credit score providers. In an effort to foster competition, Equifax is set to offer VantageScore® 4.0 mortgage credit scores at an astonishing price of just $4.50 for a span of two years, which is a more than 50% decrease compared to FICO's pricing, set to reach $10 in 2026.

Making Credit Scoring More Accessible

This strategic move by Equifax is not just about pricing; it's also about enhancing consumer access to credit. The initiative includes offering free VantageScore 4.0 credit scores to all Equifax customers involved in the mortgage, automotive, card, and consumer finance sectors who opt to purchase FICO scores. This promotion is valid through December 2026, aimed at encouraging lenders to adopt VantageScore by showcasing its robustness and relevance in today's credit landscape.

Equifax CEO, Mark W. Begor, emphasized the company's critical role in the financial ecosystem, especially during challenging times for homebuyers.