Beacon Score
Quick Summary
A credit score used in mortgage risk assessment.
ELI5 Explanation
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It is your financial report card for lenders.
Detailed Explanation
Most lenders use credit score bands to set rates and conditions. Private lenders may be flexible on score when equity and exit strategy are strong.
Example
A borrower with a 560 score may still qualify for a short-term private mortgage at a higher rate.
Why It Matters
It influences lender options and pricing.