Credit Score Requirements

Today we will discuss how credit score requirements impact your loan approval. Oftentimes investors wonder whether or not their credit score is killing the approval for a DSCR loan. The answer is yes! One of the biggest factors on credit scores is credit score usage. The credit score usage or utilization rate can greatly affect not only your score, but your ability to be approved for a loan. We recommend that customers use a simulator through MyFico, Experian, or Credit Karma in order to show you how your credit score can change after a debt is paid down. How can you pay down your debt or pay it off entirely? The answer is a usage loan. Keep in mind, you’re not alone! 7 out of 10 investors use their personal credit instead of their business credit. This drives the utilization rate up and investors stress levels up as well! 

Contact Us Today! 

Is your credit score where it should be? Contact us today to find out more about credit score requirements!

Free Tools For You! 

We also have free tools available! Download the Credit Score Checklist now to see what changes you need to make in order to get on the right path.

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