Reviewing Loan Applications

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Young couple meeting with banker in office

 

When you apply for a loan at Extraco, we review your application information to help determine your credit worthiness.

One of the first things we look at is your credit report. Here are our key considerations when viewing your credit history:

  • Your credit score tells us your past performance in meeting your financial obligations
  • Your credit report shows stability as well as borrowing behaviors¬†

Sometimes a person has a limited credit history which makes determining credit worthiness a bit more challenging. Therefore, we may also consider additional information to help us make a sound decision:

  • Management of your checking account
  • Whether or not you have sufficient funds in your savings to sustain an emergency
  • Collateral or security on the loan
  • Net worth
  • Job and residence stability

Ready to apply for a loan?

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