FAQ’S
Credit & Funding FAQs
All loans are not created equal – Start, Credit, Funded? We answer your questions.
The first step is pulling a credit report online to confirm if you have a credit score with all three credit bureaus.
Credit scores that are over 700 with at least three active lines of credit.
Credit scores that are 640 or less and have a lot of collection or charged off debt, as well as not enough active credit.
A secured credit card is when you secured a revolving debt with your assets or cash. An unsecured credit card is when the creditor approves you for a revolving debt that the creditor has given you with a set limit.
Yes, it is never good not to have credit since most lenders or creditors require that you have it in order to achieve the best financial terms available for financing either for a credit card, home loan or car loan.
You can’t. Building credit requires an active revolving account, installment loan or mortgage loan.