Equifax Inc. (NYSE: EFX) announced it will offer VantageScore 4.0 mortgage credit scores for $1, representing a 90% reduction from current mortgage credit score costs. The company stated this pricing change could generate approximately $1 billion in potential savings for the mortgage industry.

The Atlanta-based credit reporting company said it will continue providing free VantageScore 4.0 credit scores to mortgage, automotive, card, and consumer finance customers who purchase FICO scores. Chief Executive Officer Mark W. Begor said over 250 mortgage lenders currently use the free VantageScore offer with paid FICO scores, while more than 40 non-GSE lenders operate with only VantageScore credit scores for portions of their portfolios.

Equifax is supporting the U.S. Federal Housing Finance Agency Director Bill Pulte's July 2025 decision to introduce scoring competition in the mortgage industry. The pricing reduction builds on a February 2026 economic benefits study conducted by Deep Future Analytics.

VantageScore 4.0 incorporates trended data and alternative data, including rental, utilities and telecommunications payment histories. The scoring model generates scores using one month of history while leveraging up to two years of trended data. The company claims this approach provides a 20% increase in originations without additional risk.

The company also provides alternative data including telecom, pay TV and utilities attributes alongside consumer credit reports for the mortgage market at no additional cost. Equifax offers The Work Number Report Indicator with mortgage prequalification credit reports, showing whether employment records are available in its database.

Employment and income indicators will be available for automotive and card financing, with consumer finance scheduled for introduction in 2026, according to the press release.