myFICO Launches New Mortgage Score Simulator to Help Consumers Prepare for Homeownership

Simulator provides insight into how everyday actions could influence FICO® Scores most widely used in mortgage lending

BOZEMAN, Mont.--(BUSINESS WIRE)--myFICO, the consumer division of global analytics software leader FICO (NYSE: FICO), today announced the launch of a new FICO® Mortgage Score Simulator designed to help consumers better prepare their credit health before applying for a mortgage. Available to myFICO Premier subscribers, the new tool enables consumers to simulate how different credit actions could impact several of the FICO® Score versions most widely used in U.S. mortgage lending.

With home affordability top of mind for many consumers, the FICO® Mortgage Score Simulator provides myFICO customers greater transparency into how credit decisions today may influence mortgage readiness tomorrow. Even small changes in a consumer’s credit profile can meaningfully influence mortgage eligibility and the interest rate they may qualify for, potentially translating into significant savings over the life of a loan.

“Buying a home is one of the most important financial decisions a consumer will make, and we realize that FICO Scores play a big role in that journey,” said Geoff Smith, vice president and general manager of Consumer Scores at FICO. “myFICO’s new simulator gives our customers a window into how potential credit behaviors can influence the credit scores lenders rely on most in mortgage decisioning, empowering people to take proactive steps toward their homeownership goals.”

Using the simulator, myFICO subscribers can explore how common credit actions may affect their FICO® Scores, including:

• Paying all bills on time
• Paying down credit card balances
• Applying for new credit

This allows consumers to test scenarios and better understand the trade‑offs of different financial decisions — without impacting their actual credit scores.

The FICO® Mortgage Score Simulator builds on FICO’s long‑standing mission to help people better understand credit scores. With visibility into how actions can influence FICO® Scores commonly used for mortgages, myFICO helps individuals understand their credit profile and prepare before applying for a loan. Better preparation can support stronger mortgage readiness and support affordability.

The FICO® Mortgage Score Simulator is available now on myFICO as part of the Premier subscription plan.

For more information, visit www.myFICO.com.

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 80 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO^® Score, used by 90% of top U.S. lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency.

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