What is a Loan Readiness Score?

Cartoon design showing 5 people with one of them showing a thought bubble above their head that has a drawing of a house.

We know that everything that UQUAL can do to help can sometimes be confusing, so we wanted to tell you everything you need to know, so you understand exactly why UQUAL is the best path forward!

At UQUAL our main goal is to have you hear the words “You Qualify.”

We achieve this by focusing on the 4 pillars that make up Loan Readiness Score!

Image showing the four pillars that populate the loan readiness score; debt-to-income, savings/down payment, credit, and documentation.

What is a Loan Readiness Score?! Get ready because we’re about to BLOW your mind with some information about our Loan Readiness Score and how it is SO much better than just a credit score!

This is called our “Loan Readiness Score” or LRS.

Loan readiness score picture showing 84 points with a green plus 28 underneath to show improvement.

Why is this better than just a Credit Score?

It’s not JUST about credit score. There is far more that goes into qualifying your clients for a home loan.

How is this calculated?

The Loan Readiness Score is broken down into four sections below. 

1. Down Payment (30%)

2. Debt to Income (30%)

3. Credit Score (30%)

4. Documents uploaded (10%)

What score indicates you’re ready to move forward with your loan?

Our algorithm is constantly improving; we’re looking for 85+, sometimes higher depending on your situation.  

This is a QUICK indicator to tell you where you are on your Loan Readiness Journey. As always, we’re to help you every step of way to ensure you stay on the path to Loan Readiness. 

  • Marline CorreaMarline Correa

    I had the pleasure of working with Michelle, and I couldn’t be more impressed with her service. She was incredibly knowledgeable and took the time to thoroughly explain every detail of my credit report. Her patience and clear communication made the whole process much easier to understand. I truly felt supported and informed every step of the way. I highly recommend her to anyone looking for expert credit report assistance—she’s top-notch!

  • S KS K

    I don’t usually leave reviews because I prefer to give any feedback directly to the company or person I’ve interacted with. However, in this circumstance the level of service I received today from Chris Sweat at Uqual far exceeded my expectations, and I’d like to recognize him for it.

    I called the office to ask a few general questions. Chris not only answered them, but he took the time to review my account to ensure that all of the information was current and accurate. Chris informed me that there was a new platform in which I could easily access and monitor my account information at any time, which is exactly what I wanted to be able to do. He patiently walked me through the setup process, explained how each component worked, and gave me relevant and useful information about the benefits of using each of the features. Chris really went above and beyond in order to provide me with the information and tools that I needed to feel confident in managing my account, and I’m grateful for such a positive experience.

  • Nastassie PickettNastassie Pickett

    We have only been with Uqual for a little over a month but we have seen such great progress on our credit report and score in a short time. Hannah was very helpful and friendly on my first check in with the advisor team. She reviewed the progress thus far and provided recommendations moving forward to continue to increase our scores.

  • Edilberta CoyoteEdilberta Coyote

    I usually don't write reviews unless someone actually deserves it , but after the experience that I’ve had with Mandolin Raper I had to write this review she deserves a 10 🌟 review. I love the fact that She went above and beyond to guide step by step and advise me on what we're my priorities to fix. It's really hard to find an agent that treats you with kindness and respect. This made me feel appreciated and valued not only as a customer, but as a person. She got things done in a matter of minutes something I didn't get with other companies I've called. If it wasn't because of Mandolin's professionalism I would've called someone else like I did before I called UQUAL. Mandolin definitely knows what she is doing she gained my trust right away. Definitely recommend her and the company. Thank you again Mandolin Raper.