As you build and maintain your credit, there are primarily three Credit Bureaus that will each give you a FICO score. When you apply for a Mortgage, normally the Lender will discard the highest score and the lowest score, and use your middle score to determine your loan eligibility and rate. Normally, until you reach a middle FICO score of 740+ or 760+, your mortgage rate will get better in each 20 point tier. Sometimes you just need a little FICO increase to get a better rate in the next higher tier. To do this, after you apply for a loan, we run your Credit Report through an Artificial Intelligence (AI) Program to analyze each of your three FICO scores to determine if there is a probable and immediate pathway for you to raise one or more FICO scores to achieve a better rate. If AI determines this is feasible, then a report with specific instructions is generated. After you follow those steps, we will then order a FICO Rapid Rescore. Sometimes a few simple steps can save you thousands of dollars over your Mortgage Term. When it comes to your next level FICO Score Boost, let our AI help decide your next step.
