Two borrowers on one loan? The lender uses the lower of each borrower's middle score.
Underwriting
Tri-Merge Credit Report
A single report combining Equifax, Experian, and TransUnion — the lender uses the middle score of the three.
More in Underwriting
- Credit Score (FICO)— A 300–850 score used to price consumer and investor loans; investor programs typically wan…
- Reserves— Liquid post-close funds a lender requires you to keep in the bank, measured in months of P…
- PITI— Principal + Interest + property Taxes + Insurance — the four components of a full monthly …
- Gross Rent— Total rental income before any expenses or vacancy adjustments.
- Market Rent— The rent a property would command if leased today, established by an appraiser using recen…
- T-12 (Trailing Twelve Months)— The property's actual income and expenses over the last 12 months — the primary underwriti…