Understanding Your Loan Readiness Score

How the 100-point score works, the 6 scoring categories, and how to improve your score.

How It Works

The Loan Readiness Score is a 100-point assessment across 6 categories that shows how prepared you are for bank approval.

Scoring Categories

1. **Project Details** (20 points) — Project name, address, build type, timeline
2. **Budget Completeness** (25 points) — Number of line items, all categories covered, realistic amounts
3. **Documentation** (20 points) — Insurance certificates, permits, plans uploaded
4. **Financial Info** (15 points) — Loan amount, lender info, retainage percentage
5. **Profile Completeness** (10 points) — Your name, contact info, builder qualifications
6. **Draw Readiness** (10 points) — SOV mapped, draw schedule configured

Score Levels

• **90-100** — Excellent. Ready to submit.
• **70-89** — Good. Minor items to complete.
• **50-69** — Fair. Several areas need attention.
• **Below 50** — Needs work. Address major gaps before approaching your bank.

> TIP: Aim for a score of 85+ before scheduling your bank meeting. First impressions matter, and a complete packet shows the bank you're organized and serious.