What are the minimum credit requirements to receive a loan?

Borrowers on Ridgewood Savings Bank must have a minimum FICO or Vantage score of 680 as reported by a consumer reporting agency. In addition, there cannot be any material adverse change in your credit report from the time the loan was offered to you and your funding.  For more information about material adverse changes, please see here.  

We also check to see how much debt you have in comparison to the income you receive.

You must not have any  bankruptcies on your report. You must not have any public records from within the last 3 years on your report. 

You must also not have on your report any accounts that are currently delinquent.

You must have fewer than 6 inquiries on your credit report in the last 6 months, not including any inquiries related to student loans, vehicle loans, or mortgages.

Additionally, the credit score Ridgewood Savings Bank receives may be different from the one reported by your credit monitoring services in the event that a credit monitoring service is reporting a score from a different bureau or different scoring method.

If you believe there are errors on your credit report, please contact TransUnion.

Name: TransUnion


Address: P.O. Box 2000, Chester, PA. 19022


Telephone number: 1-800-916-8800


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