Frequently Asked Questions
Mortgages & Loans
We have put together the answers to many of our neighbors’ most frequently asked questions.
Have a question we missed? Use our contact form to submit.
Q. How do I apply for a mortgage loan online?
A. You can click here to apply for a mortgage online or as always loan applications can be made in person.
Q. Who should I talk to about a loan?
A. For additional details regarding our loans please call the Bank, visit one of our offices, or use one of the links below:
Q. How is credit reported?
A. Winchester Co-operative Bank reports payment activity to three of the major national credit reporting agencies: Equifax, Experian and TransUnion.
The Bank’s report to the agencies includes a twenty-four (24) month history of payments of all mortgages, home equity lines of credit, automobile and personal loans. Please click here for additional information about credit scores. If still have questions, please give us a call at 781-729-3620.
Q. How do I protect myself from unsolicited calls from other lenders?
A. Winchester Co-operative Bank does not share or sell borrower information. However, under the Fair Credit Reporting Act (FCRA), after a credit report is requested by a lender the major national credit reporting agencies are permitted to sell a borrower’s information to other potential lenders. This is called a “trigger lead” program and is not controlled by the Bank.
Fortunately, the FCRA also allows borrowers to Opt-Out, preventing the credit reporting agencies from selling your information and keeping your name off marketing lists. The Opt-Out process is easy and available online by visiting OptOutPrescreen.com. Please note: It can take several days for the Opt-Out to be processed and only applies to new credit requests.
