1st Florida Lending Corp., a registered Mortgage Lender Orlando servicing all of Florida offering over 48 loans programs including Conventional Loans, Non-Conforming Loans, FHA Loans, VA Loans, USDA Loan, Self-Employed Loans, Bank Statement Loans, No-Doc Loans, Reverse Mortgage Loans, ITIN Loans, Rental Investment Loans, to name a few and specializing in Bank Statement Loans or “stated loans” requiring no Tax Return verification and much more. * No broker or lender fees are for FHA,VA, USDA and Conventional loan types Main Office: 2151 Consulate Dr. * Suite 8 * Orlando, FL., 32837 * Telephone (800) 655-1345 * (407) 300-2558 * Fax (877) 401-9955 We are approved lenders for all Government Loans and registered with the Florida Office of Financial Regulation - # MLD106 When Banks Say No ! We Say YES ! ® is a registered trademark owned by 1st Florida Lending Corp.

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Do not let a low credit score stop you from owning a home, while credit history is important, you can still own a home with a low credit score. We understand life is not always fair and people have ups and downs with their finances. Many borrows often face struggles in improving and maintaining a good credit score. This is due to many factors which may have an impact on finances. At 1st Florida Lending, we offer free advice of how to overcome Credit issues. A good credit score is very important in purchasing a home. Credit Scoring Credit scoring is a system creditors use to help determine whether to give you credit. Information about you and your credit experiences, such as your bill-paying history, the number and type of accounts you have, late payments, collection actions, outstanding debt, and the age of your accounts, is collected from your credit application and your credit report. Using a statistical program, creditors compare this information to the credit performance of consumers with similar profiles. A credit scoring system awards points for each factor that helps predict who is most likely to repay a debt. A total number of points -- a credit score -- helps predict how credit worthy you are, that is, how likely it is that you will repay a loan and make the payments when due. What is a Rapid Rescore? The term “rapid rescore” refers to a process by which a lender submits proof to a credit reporting agency of recent changes or updates to account information that are not yet reflected on the credit report. Because mortgage loans are often time-sensitive, the lender orders a rapid re-score on behalf of the borrower to the credit reporting agency to have the new information updated within an expedited time frame usually 3 to 5 business days. Once the credit report is updated, a new credit score can be requested that will reflect those updates and ideally result in a higher score. This service is offered only through a lender, so you cannot request a rapid rescore on your own. Reducing high credit card balances can also help your credit score by reducing your utilization rate, also called your balance-to-limit ratio. Your utilization rate should be no more than 30%. The lower your credit card balances are, the better. Even after you make the necessary payments, it may take a full billing cycle for your creditors to process those payments and submit the information to the credit reporting agencies for your credit reports to be updated. Scores calculated after the updates have been made will reflect the changes. Is a Rapid Rescore Something I Should Consider? A rapid rescore is usually recommended by your lender when your current credit score falls within a few points of the score that is needed to qualify for a better rate or loan terms. If you have the means to pay down your debts and have a current credit score that is relatively close to the score the bank says you need, it may make sense to ask your lender to take advantage of a rapid rescore option in order to save money on interest and fees in the long run. Credit Report Versus Credit Score: What's the Difference? Your credit score is a three-digit rating that quantifies your credit risk. Among other uses, lenders reference this number to help assess your creditworthiness; a higher credit score indicates less risk. Your credit report details your credit history. Individuals who feel that their credit score is incorrect should look for inaccuracies in their credit report. You can correct erroneous information in a credit report that results from misinformation or identity theft by disputing your credit report. Credit Check: Why Should I Care? Why is it important to check your credit report regularly? Many people frequently pay attention to their credit scores when they buy big-ticket items such as a new car or a home. While these are some of the most familiar reasons consumers monitor their credit reports, credit scores and reports actually are used for many other reasons as well. A good credit score can get you better rates on common necessities such as car insurance premiums, cell phone contracts and apartment rental agreements. Some employers even check prospective employees’ credit reports before making final hiring decisions. In addition, despite increased public awareness of identity theft, the crime continues to grow. Therefore, monitoring your credit report and score has never been more important. Understand, Build and Manage Your Credit Credit plays an important role in your life — affecting the purchases you make and much more. The more insight you have about credit, the easier it is to strengthen your financial well-being.

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Disclaimer: All Loan programs, rates and terms can change without notice and are subject to credit and underwriting approval. Loan charts highlight min/max constraints, assumptions & random scenarios only. We will always work hard to approve your loan but there are no guarantees of any kind expressed or implied that your loan we be approved. © 2007 - 2019 1st Florida Lending Corp. - All rights reserved I Privacy Policy I Terms of Use I

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