CW Mortgage Loans

Cosigning on a loan can sometimes be a tough decision. You may be caught in the middle of trying to help someone who is close to you, but not wanting to risk your credit. Cosigners lend their names and good credit histories to the primary applicant. Should the primary applicant die, lose a job, or otherwise fail to make payments, all responsibility for meeting the terms of the loan transfers to the cosigner. An often-overlooked aspect of cosigning a loan is the fact that the loan appears on both the primary applicant's and cosigner's credit reports.

It is important to remember that when you cosign for a loan you are taking on the same responsibility as the primary borrower with promising to pay the loan in full. When a loan is reported as current or late to the credit bureau it affects each borrower the same. So if a payment is missed or a loan is charged off both borrowers' credit will suffer. Since the loan will show on your credit report it will increase your debt to income ratio, even though you may not be the one making the payments. Debt to income ratio is something that is looked at when you apply for a new loan or credit card,  and in some cases, can be a reason for denial.

No, unfortunately, the credit bureau does not allow us to give out copies of the report.

However, if you are enrolled with ID Protect (FREE with any CW Checking account), following registration and activation of your coverage you can review a NEW 3-in-1 credit report every 90 days or whenever you receive a credit file alert.

You can also request a free copy of your credit report by visiting AnnualCreditReport.com.

Applicants need to have a credit score of at least 620 to be eligible to apply for a mortgage loan.

No, we do not offer home equity loans at this time.

The minimum amount that can be financed for a mortgage loan is $10,000.00.

The types of mortgage loans we cannot do are:

• Home equity loans
• Loans on land only
• Commercial property loans
• Construction loans
• Bridge loans