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Tag Archives: bank approval policies

What to Say (and Not) to Say to a Loan Officer

Monday, May 17, 2010

2017 Update: Know the law and protect yourself from predatory lenders. Learn how to avoid scams. Credit is a privilege, not a right. It’s something that needs to be earned – like respect. Don’t expect to receive it without qualifying why you are eligible. Simply having a good story and a bank account does not […]

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What Is Your GDS Ratio and TDS Ratio?

Wednesday, January 27, 2010

Your monthly budget likely accounts for every dollar coming into your home. Perhaps detailing each payment and expense you’ll be required to pay for that month while the amount of cash left over you designate toward savings. When you’re sitting at your kitchen table trying to calculate if you can afford another loan, I bet […]

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The Three Big Cs – Character, Cash, and Collateral

Saturday, January 24, 2009

Bankers used to say they relied on the “Three Cs” – Character, Cash, and Collateral. In the old days of banking when it was a much more personal process, character stood for a lot when you were being approved for a loan. Nowadays your credit score is the real mitigating factor between approval and not […]

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