VantageScore 4.0 can now be used to determine your mortgage rate. Here's how to find yours.

Mortgage lenders have long used three key FICO scores — 2, 4 and 5 —  to determine home loan eligibility. Now, there are a couple of new score models on the block that could make it easier for people with certain types of debt or limited credit history to get a mortgage. 

Lenders can now use VantageScore 4.0 to determine eligibility for any Federal Housing Administration (FHA)-insured loan and any Freddie Mac and Fannie Mae loan, according to a statement from the Trump administration last week. Soon, lenders will be able to use FICO 10T as well, which is calculated similarly. The move is part of a multi-year effort under the Credit Score Competition Act, signed by President Donald Trump in 2018. 

The adoption of these newer score models changes the mortgage application process by making it easier for some applicants with certain financial histories to get a mortgage. 

Unlike classic FICO scores, both Vantage 4.0 and FICO 10T include rent and utilities in the payment history — making it easier for those who don't have loans or a credit card to build credit. The two new scores also weigh medical debt and paid collection accounts differently than classic FICO scores, which could make it easier for someone with an unpaid medical bill or a history of collections resolved years earlier to qualify for a loan. 

"Expanding the set of acceptable credit scoring models to include VantageScore 4.0 and FICO 10T will help foster a more transparent and dynamic market, broaden access to sustainable credit, and put downward pressure on costs," for these two types of loans, Mortgage Bankers Association President and CEO Bob Broeksmit said in a statement about the change. 

If you're thinking about applying for a mortgage in the future, here are a few tools you can use to view these two scores.

VantageScore 4.0 is harder for customers to find than older models, like VantageScore 3.0.  

However, Synchrony Bank — which issues over 100 store cards and credit cards — offers its customers a free look at their VantageScore 4.0, according to VantageScore. Synchrony provides monthly score updates, so you'll be able to see the most up-to-date information. 

If you're looking to get a store card from Synchrony that you'll use a lot, we recommend the Amazon Prime Store Card, which earns 5% cash back at Amazon.com and Whole Foods Market. 

We also like the PayPal Cashback Mastercard and the Venmo Credit Card — both backed by Synchrony — if you don't use Amazon enough to make the Prime Store Card worthwhile. 

You can view your FICO 10T score with myFICO through myFICO Basic (free), myFICO Advanced ($29.95 each month) and myFICO Premier ($39.95 each month), FICO confirmed to CNBC Select. 

The two paid options provide a snapshot of your score with data from all three credit reporting bureaus (Experian, TransUnion and Equifax), while the free option gives you a score based solely on Experian's data. 

On top of that, myFICO offers a FICO score simulator that allows you to see how certain actions can change your score — and information on how you can improve your score, a feature we love here at CNBC Select. The Premier option comes with a simulator for mortgage scores as well. 

At CNBC Select, our mission is to deliver high-quality service journalism and comprehensive consumer advice to our readers, enabling them to make informed financial decisions. Every personal finance, mortgage, credit card and credit monitoring review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of financial products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties and we pride ourselves on our journalistic standards and ethics.

Catch up on CNBC Select's in-depth coverage of credit cards, banking and money and follow us on TikTok, Facebook, Instagram and X to stay up to date.