Question 1

Does LoanReady AI guarantee loan approval?

Accepted Answer

No. LoanReady AI is an educational self-assessment tool. We do not guarantee approval, rates, terms or any lender decision.

Question 2

Does this affect my credit score?

Accepted Answer

No. We do not perform a hard credit inquiry. Our assessment is based only on the information you provide.

Question 3

Do I need to provide my SSN, SIN or TFN?

Accepted Answer

Never. LoanReady AI does not request or store sensitive tax identifiers like SSN, SIN or TFN.

Question 4

Is LoanReady AI a lender?

Accepted Answer

No. We are not a lender, broker, credit bureau or credit repair organization.

Question 5

Do you submit applications for me?

Accepted Answer

No. We only help you understand your profile before you apply somewhere else.

Question 6

How is the score calculated?

Accepted Answer

The Loan Readiness Score is based on 10 factor groups — including credit profile, income stability, debt affordability, application activity, payment history and documentation readiness — using transparent, editable rules.

Question 7

Is the score the same as my credit score?

Accepted Answer

No. The Loan Readiness Score is an educational readiness estimate, not a credit score. It does not replace or predict any lender or bureau score.

Question 8

Can I use this after being rejected?

Accepted Answer

Yes. Many users come to LoanReady AI specifically after a rejection, to understand what may have contributed and what to address before their next application.

Question 9

Can I use this if I am self-employed?

Accepted Answer

Yes. Our questionnaire supports full-time, part-time, self-employed, freelance, contract, casual, commission-based, retirement and multiple-income situations.

Question 10

Can I use this as a new immigrant?

Accepted Answer

Yes. The assessment adapts to short credit history, limited documentation and country of residence.

Question 11

How long does the assessment take?

Accepted Answer

About 3 minutes. Progress is saved automatically so you can pause and continue later.

Question 12

Can I update my information later?

Accepted Answer

Yes. You can retake the assessment at any time and track how your score evolves in your dashboard.

Question 13

Can I download my report?

Accepted Answer

Yes. The full report can be downloaded as a PDF after unlocking the Full Approval Readiness Plan.

Question 14

Is the $19.90 plan a subscription?

Accepted Answer

Yes. The Full Approval Readiness Plan is a monthly subscription. With the welcome offer you pay $19.90/mo instead of $39.90/mo (save $20.00 every month). You can cancel anytime.

Frequently asked questions