What is Azora’s comparable credit policy?

Azora’s Comparable Credit Policy requires evidence of previous credit experience under the following conditions:

• Eligibility: Applicable to Streamline product only.

• Requirement: Borrowers must demonstrate at least 6 months of active repayment history on comparable credit facilities.

• Exclusions: Revolving credit facilities such as credit cards are not considered.

• Homeowner Requirements: Homeowners must provide 6 months of mortgage statements as evidence. Paid-out credit is acceptable if supported by a statement dated within the last 12 months.

• Not Required for Accelerate: The Accelerate product does not require comparable credit to be demonstrated.

• Rule of Thumb: Comparable credit should be around 70% of the loan amount. For amounts below 70% down to 40%, a 20% deposit may be required