FUNDING
CREDIT SCORES
The Credit Score Myth GETTING FUNDABLE IS MORE THAN JUST HAVING A GOOD CREDIT SCORE.
By Merrill Chandler
bone about credit score to give the most basic level guidance on how to be a “good risk” as a borrower. As a result, anyone who wants to borrow money is obsessed with their credit score. The problem is your credit scores are not the chief determining factor for getting credit approval. Fundability is so much more than a credit score. Fundability is the com- position and quality of your entire financial situation as represented by
L enders make the most money when they lend money, right? Then why does it seem like they want to keep borrowers in the dark about how to qualify to borrow their money? The reality is lenders wish you knew the foundational secrets of how to be a good borrower, but the “Illuminati”-level secrecy has been baked into the system because they haven’t trusted society not to abuse their processes. So, they threw us a
your multilayered borrower profile and behaviors. It is measured by five major factors known as your Fundability Score. Let’s take a look at each of one of them. IDENTITY PROFILE The first factor is your identity profile. Your identity profile helps a lender determine which borrower they’re actually lending to. In the
42 | think realty magazine :: july – august 2023
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