fbpx

WHY CHOOSE US

We are a team of experts with extensive knowledge and experience in the commercial, residential and rental property.

WHO WE ARE

An FHA Approved Mortgage and Real Estate Broker providing FHA, VA, USDA, 203K, Conventional, Jumbo, Streamline Refi, and Reverse Loans.

When to Expect a Hard Credit Check

When to Expect a Soft Credit Check

When to Expect a Hard or Soft Credit Check

HARD CHECK

* Applying for a credit card

* Applying for a loan (personal, mortgage, car, business, etc.)

* Getting a cell phone contract

* Requesting a credit line increase

 

SOFT CHECK

* Loan and credit card pre-approval letters

* Checking your own credit score

* Employer background checks and other background checks

* Getting an insurance policy (life, renters, car, homeowners, etc.)

HARD OR SOFT CHECK

* Apartment rental applications

* Opening a checking or savings account

* Getting a cable or utility account

* Identity verification by financial institution

Unlike a hard credit inquiry a soft credit inquiry wont affect your FICO® Score.

 

What Is a Good FICO® Score?

FICO® creates different types of consumer credit scores. There are “base” FICO® Scores that the company makes for lenders in multiple industries to use, as well as industry-specific credit scores for credit card issuers and auto lenders.

The base FICO® Scores range from 300 to 850, and FICO defines the “good” range as 670 to 739. FICO®‘s industry-specific credit scores have a different range—250 to 900. However, the middle categories have the same groupings and a “good” industry-specific FICO® Score is still 670 to 739.

What Is a Good VantageScore?

VantageScore’s first two credit scoring models had ranges of 501 to 990. The two newest VantageScore credit scores (VantageScore 3.0 and 4.0) use a 300 to 850 range—the same as the base FICO® Scores. For the latest models, VantageScore defines 661 to 780 as its good range.

Share This