What kind of credit score do I need to qualify for a HedgeLoan?
None. If a credit score is pulled as part of the ability-to-service loan and identity verification process, it will not be used to determine the characteristics of your loan offer, which is determined only the quality of your collateral and related factors only. FICO scores or appraisals are likewise not typically used. Interest rates, for example, are not affected by net income or personal financial statement data or past bankruptcies, only in determining identify and ability to service the loan payments, and all forms of current assets/net worth may be used in assessing “ability to service”. In practice, few borrower applicants are unable to meet at least the minimum standards. Please note that in compliance with Patriot Act and Homeland Security requirements, foreign applicants will be required to produce a copy of their passport and may be asked for other identification-confirmation documents prior to proceeding. HedgeLender also uses the multi-database URU background checking syst
