Initiating a credit application (and sending the credit application to the homeowner via email) can be done from the qualification page. 

Qualification page

The qualification page can be accessed by clicking on the checkmark in the toolbar. Some accounts will require a quote to be created for the qualification page to be available for the Apply button to be active.

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A window will appear showing confirming the contact, address, and quote the credit application will apply to, as well as the email address where the application will be sent. The email address must be valid and not assigned to an existing EverBright user. Click Save when you've completed your entry. In some instances, a credit decision can apply to more than one product. The products that the application applies to are listed in the "Products" section of the page for the selected application.

Note: This initial credit check is a soft pull. For EverOwn products, this credit application gives permission for EverBright to convert the soft pull to a hard inquiry 30 days after M1 approval.*

Click Submit to send or start the application.

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For applications that have already been sent out, you can cancel the application or re-send the email to the homeowner. These choices are accessed under the Actions menu for a given application - first clicke Actions then select Resend Email or Cancel.

*What’s the Difference Between a Soft Credit Pull and a Hard Credit Pull?

Soft credit pulls and hard credit pulls are two different types of inquiries that can be made into a credit report by a third party, such as a lender like EverBright.

Here are the key distinctions between a soft credit pull and a hard credit pull:

1. Purpose:

   • Soft Credit Pull: A soft inquiry is typically done for informational purposes or as a preliminary step. It is often used for pre-approval offers or to conduct background checks. Soft pulls do not affect someone’s credit score.

   • Hard Credit Pull: A hard inquiry is performed when a lender or creditor needs to evaluate the creditworthiness of a credit application. It is typically associated with applying for a loan, credit card, mortgage, or other types of credit. Hard pulls may impact someone’s credit score temporarily.

2. Impact on Credit Score:

   • Soft Credit Pull: Soft inquiries have no impact on an individual’s credit score. They are not visible to other lenders or creditors, and they do not affect an individual’s creditworthiness.

   • Hard Credit Pull: Hard inquiries can affect an individual’s credit score. While the impact is usually minor and temporary, multiple hard inquiries within a short period can indicate higher credit risk and potentially lower the individual’s credit score.

3. Access to Information:

   • Soft Credit Pull: Soft inquiries provide limited access to an individual’s credit information. They typically show only a summary of the credit report, including credit accounts, payment history, and public records.

   • Hard Credit Pull: Hard inquiries provide full access to an individual’s credit information. They include a detailed review of the credit report, including account details, balances, payment history, and any derogatory remarks. Hard inquiries are visible to other lenders or creditors who access the individual’s credit report.

It's important to note that while soft inquiries do not impact a person’s credit score, they are recorded on their credit report, and the individual can see them when they check their own credit history. However, soft inquiries are generally disregarded by credit scoring models when assessing creditworthiness.

On the other hand, hard inquiries are considered in credit scoring models and can affect a person’s credit score temporarily. It's advisable to minimize the number of hard inquiries by only applying for credit when necessary and being selective about credit applications.

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