FICO Score
What is a FICO score?
The credit scoring model used by Total Quality Lending and most U.S. mortgage underwriting. Drives both eligibility and pricing tiers.
FICO is the credit scoring model developed by Fair Isaac Corporation. It ranges from 300 to 850 and quantifies a borrower’s credit risk based on payment history, outstanding debt, length of credit history, credit mix, and new credit inquiries. It is the dominant scoring model in U.S. mortgage underwriting.
On a single-borrower file, the lender pulls scores from all three bureaus (Equifax, Experian, TransUnion) and uses the middle of the three. On a joint file with two borrowers, the lender uses the LOWER of the two borrowers’ mid-scores. That representative score then drives eligibility, LTV cap, and pricing.
Higher FICO unlocks larger loan amounts and higher LTV caps; it also typically lowers the interest rate. A 740+ FICO file with strong DSCR will price meaningfully better than a 660 FICO file with the same DSCR.
How FICO applies at Total Quality Lending
Minimum FICO by program: DSCR 640; Prime Time 620; Foreign National DSCR 680 (or No Credit Score path); Multi-Unit DSCR 700. Top-tier 80% LTV on DSCR purchases requires 740+ FICO with DSCR of at least 1.00 and loan ≤ $2.5M. Interest-only DSCR loans require 680+ FICO.