Versions Compared

Version Old Version 37 New Version 38
Changes made by

Rafael Gonzalez

Rafael Gonzalez

Saved on

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.

...

cannot initiated for an individual more than 2 times within 30 days for the same applicantCan a Credit be

Credit FAQ’s

Is there going to be a Hard Inquiry?

All credit initiations are soft inquiries.

  • They will convert into a hard inquiry either 30 days after the agreement is signed or Milestone 1 (M1) is approved (Whichever occurs last)

Do we need both applicants in the title too?

Both credit applicants must be on the title of the property and must be a signer on the agreement

When is the Credit Approval going to expire?

Credit approval expires 60 days after credit decisioning - Public Information

Can we Initiate a Credit application multiple times? Credit

be

transferred to a new project?

Credit can be transferred to a new project for the purpose of a financial product change by the applicant(s)

  • Must be the same individual’s credit being transferred to the new project

How is my PPA Agreement going to affect my credit?

Only monthly obligation (plus any past due amounts) is being reported

  • This means that your credit reflects only your current monthly obligation rather than the enire contract balance

Tip

Please refer to the following article: (Click Here)

...

Conditional Approvals - Income verification

  • Conditional approvals will require further documentation to move forward. The customer will receive an email with a list of required documentation.

In order to verify their income, the customer will need to upload one of the following documents:

  • 2 most recent paystubs

  • Most recent W2 form

  • First 2 pages of most recent 1040 tax return form (displaying full name and signature)

  • Most recent 1099 form

Info

If customer is unable to find the credit stipulation email Docusign Email that was sent, then customer may send the requested proof of income documents to the following email at: dealprocessing@goeverbright.com.;

If Chat or Email:

  • please redirect them to contact our C&T team at 877-465-2496

    • The Line will first go to our SS support team, who will need to reach out to C&T to resend the DocuSign link.

If Phone:

  • SS support Team will reach out to C&T to resend the DocuSign link to the Homeowner

...

Related Articles:

Co-Signer/Co-Applicant Requirements