THE BELOW INFORMATION IS INTERNAL. DO NOT SHARE THE SPECIFICS WITH A CUSTOMER OR INSTALLER.
EverBright EverFlex, EverFix, EverEasy, and Powershift.
The customer must submit a credit application and pass the credit and title criteria to be eligible. The criteria include a combination of credit score, debt delinquency, mortgage, and bankruptcy. One of the credit applicants must be on the title of the property and must be a signer of the agreement.
Criteria | FICO: 650-699 | FICO: 700+ |
|---|---|---|
Bankruptcy | None in the last 3 years | None in the last 3 years |
OFAC | Pass or Fail | Pass or Fail |
Collections | None active- remove medical | None active-remove medical |
New Tradelines | < 3 in the past 6 months | No requirement |
Other Late Payments | None in the last 12 months | No requirement |
DTI | No requirement | No requirement |
Savings Rule | $1 in first year | $1 in first year |
Credit Inquiry Type | Soft inquiry | Soft Inquiry |
Mortgage Late | None in the last 36 months | None in the last 12 months |
DO NOT provide any details about credit declines specifically pertaining to the homeowner.
Credit approval expires 60 days after credit decisioning - Public Information
Financing for PPA’s do not affect debt to income ratio (DTI)
Credit cannot be initiated for an individual more than 2 times within 30 days for the same applicant
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
Cannot extend past credit expiration limit (90 days) - Internal use only
The following chart shows the potential results subsequent to running pre-qualification:
If Credit is Conditionally Approved
In order to verify your income, please 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
If customer is unable to find the credit stip email that was sent, then customer may send the requested proof of income documents to the following email at: dealprocessing@goeverbright.com.
If you have any questions or need further assistance, please contact the Everbright Title and Credit Support team at 1-833-830-0475.