Credit and Mortgage Loans

Like any lending institution, Bankers Trust will require that people who apply to have their home mortgage loan financed by the bank meet certain specific criteria. One important aspect of the home mortgage loan approval process is making sure the consumer’s credit history is acceptable.

Your Bankers Trust loan officer can be a good source of information about how to prepare your credit for the loan application process. The Internet also offers may websites that explain what types of issues can compromise your credit history and what you can do to clear up any problems that show up.

Before applying for a mortgage loan with Bankers Trust or any other lending institution, take the time to obtain a copy of your credit report. Review it carefully for any missing, outdated or incorrect information. If you discover a discrepancy, notify the reporting credit agency of it in writing. They are obligated to correct any errors.

As a member of the banking community, Bankers Trust wants consumers to know they have certain rights relating to their credit. Making sure that the information your lending institution will see when they request your credit history accurately reflects your past financial activities is one of the most important steps you can take as you begin to shop for a lender to finance your mortgage loan.

Bankers Trust understands that sometimes consumers have problems that can result in late or slow payments. If something of that nature appears on your credit report, prepare a written explanation of what happened and why. Remember, having your mortgage loan financed is a big step. Take the time to make sure your credit is prepared.