Approval Factors: Making loans possible via the Lendvia way.

The Loan Coaches at LendVia are trained to help you complete the application for approval that will present you in the best light. We look at the “big picture” and not just a credit score. Where other’s may have been tight with lending, LendVia will help you find a way.

Here are some of the factors considered in your application.

Utilization Ratio

This is the proportion of balances vs. limits held on your credit cards. A high utilization ratio is an indication that you may have borrowed too much and that you are fast approaching your borrowing limits. Utilization ratios account for 30% of your credit score.

Debt-to-Income Ratio

Your debt-to-income ratio (DTI) compares how much you owe each month vs. how much you earn. Specifically, it’s the percentage of your gross monthly income (before taxes) that goes towards your monthly payments for housing, credit cards and other debts. A high debt to income ratio is an indication that you may be living pay check to pay check. No more than 50% of your income should be used to pay debt expenses.

Income History

Having a stable and seasoned source of income demonstrates financial stability. Income must be from a verifiable source.

FICO

Your FICO Score summarizes your credit history. At LendVia we have some offerings that are not FICO driven.

Our Loan Coaches are aware that you have specific financial needs that are different and unique. We are prepared to coach you through the process to find real solutions.

BANK ACCOUNT

Auto Pay is a convenient and easy payment method that also helps the environment. It assures the lender of timely payment and less risk. Most importantly, this same account that will be used to make payments will also be the account where you will receive any funds.