cancel
Showing results for 
Search instead for 
Did you mean: 

Lender Stimulator

mclite20
New Member

Lender Stimulator

Hello!

Does anyone have experience with rapid restores? Our LO has put one through for us and we are planning to close next weekend.

So they typically update quick?
Message 1 of 5
4 REPLIES 4
Dynversmom
Established Member

Re: Lender Stimulator

I Did one and scores were within 3 points of what simulator said they would be.


Good luck
Message 2 of 5
mclite20
New Member

Re: Lender Stimulator

Oh no. Did you do one with a lender or on your own? And how long did it take for you to get the results?

Thank you!
Message 3 of 5
Dynversmom
Established Member

Re: Lender Stimulator

It was with a lender but I didn’t rapid rescore but just followed what the simulator said to increase scores I had three trade lines and the lender was trying to make me pay for the rescore and it was only a week before my cards would report so I just chose to wait it out.
Message 4 of 5
homeloanexpert
Established Contributor

Re: Lender Stimulator

The rapid rescore is a valuable tool. I see an average of 2-4 points variance in results from the simulator to actual results. FYI, a borrower can NOT pay for this, the lender or LO have to cover the cost.

Mortgage Banker - Since 1988 offering FHA, VA, USDA, Conventional, Jumbo, Portfolio and Non-QM Loan Products. Licensed in AL, AR, AZ, CA, FL, GA, ID, IL, IA, IN, LA, MI, MO, MS, NC, NV, OH, OK, OR, SC, TN, TX, VA and WI.
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.