Account Transactions

Can I view images of my cleared checks online?

Double Click on the check number and you will be able to view and print the front and back of the check. To obtain copies of checks that are have cleared prior to the history available online, contact Customer Service (fees may be applicable for this service).

How current is my account information?

Account balances and transactions for your accounts are generally real-time.

ATM transactions reflect information from the previous business day.

How do I confirm that a transfer was successful?

When a transfer has been completed you will receive a confirmation message. You should print this page for your records. There may be instances where a confirmation message cannot be received or displayed due to circumstances beyond our control. You can always check your account transaction history online to confirm that a transaction was successful. Always confirm that a transaction was accepted or declined before resubmitting.

How do I create nicknames or descriptions for my accounts?

You can create nicknames for all of your accounts so that it will be easier for you to differentiate between similar types of accounts that you hold at The Arlington Bank. To create a nickname, under the ‘Settings’ tab, select ‘Account Settings.’ You should see a complete list of your accounts. Click ‘Edit’ beside the account name you wish to nickname and then type in the nickname. Click on ‘Save.’ The nicknames only affect what is displayed to you on the screen.

How do I set up a Stop Payment on my account?

You must stop into one of our branches to issue a stop payment.

How do I view my account details and transactions?

To view account details, you must first log in to Arlington Bank Online. Once you have logged in to the system, your screen will display a list of your accounts and their respective balances and nicknames that you have created. To view balance, activity or interest information, click on the masked account number next to the account you wish to view.

The Details tab will give you the most recent transaction details. If you click on the Transactions tab, you have the ability to filter the transactions for research and to view additional transactions. The Arlington Bank maintains 24 months of transaction history, available at all times (note: for most accounts, account history started accumulating on May 4, 2015).

How far back can I view statement history?

The Arlington Bank maintains copies of online statements for 12 months.  Account transaction history is maintained for 24 months (note: for most accounts, account history started accumulating on May 4, 2015).

If I do not enroll in Arlington Bank Online, is my account information accessible online?

No. You must be enrolled in Arlington Bank Online to access account information on the Internet.

What if accounts are not displayed on my account list?

You must be a sole or joint signer on an account for it to be included in your Arlington Bank Online portfolio. Contact Customer Service to request an account be added to your portfolio.

What if there is a transaction that has posted to my account that I do not recognize?

Sometimes merchants will “preauthorize” an amount for a slightly different amount than the purchase, but they will clear for the correct amount. For example, if you “pay at the pump” at a gas station, the gas station often authorizes a $1 charge to ensure that the check or debit card used is valid. When the purchase clears, the $1 amount will be replaced by the correct amount when it posts to your account. If the transaction posts to your statement for an incorrect amount, see the back of your statement for instructions on how to handle non-authorized transactions.

What is an ACH item?

ACH stands for Automatic Clearing House. These transactions are generally direct deposits or direct debit payments from merchants.

When will advances, payments or transfers be processed?

Transactions submitted Monday through Friday, 8:00 AM-4:30 PM, will be processed that day. Any transaction initiated after these business hours or on weekends or holidays will be processed on the next business day.

When will transactions be posted?

Transactions initiated during business hours will be posted when they occur. Business hours are Monday through Thursday, from 9:00 AM EST to 4:30 PM EST, and Friday from 9:00 AM EST to 5:00 PM EST (drive through is open at Reed Road and Grandview office at 8:30 AM EST). Transactions conducted on Saturdays will post the next business day. Online banking transactions that occur after 4:30 PM (Mon-Thurs), after 5:00 PM (Fri), or on weekends or holidays will post the following business day.

Why haven’t transactions cleared my account?

Many transactions are affected by weekends or holidays and will generally post on the next business day. Check card transactions may take up to 5 business days to clear depending on the merchant.

Bill Pay

How can I be sure no one else can access my bill paying service?

You will access the system through Arlington Bank Online by entering the User Name and Password chosen by you. Only individuals with this information can access your account, including bill pay. Be certain not to release this information to anyone.

How can I prove payments and transfers were made?

Each time you enter a payment, you are given a transaction number so you can be sure we received your request. In addition, payments will appear on your monthly statement. Or, you may access Arlington Bank Online to review a listing of your most recent transactions.

How close to the original payment date can I change or cancel a bill payment?

You can change or delete a bill payment up until 11:00 a.m. EST of the processing date you originally gave us.

How do I add more payees?

While using the Arlington Bank Bill Pay system, click on the ‘+Add a Payee’ button and follow the directions for filling in information about your payees. Payees can be companies, individuals and financial institutions. If the payee is another financial institution to which you would like to make transfers, include the routing number and account number for that institution.

How do I get started?

The first thing you’ll need to do is organize all the information about any individual, family member, friend, business, merchant or professional who generates an invoice for products or services that you want to pay through Arlington Bank Bill Pay. Gather together the names, billing addresses, phone numbers and your account number with the company or individual. All of this information is usually on the billing statement. Next, complete the online enrollment. The enrollment link is located above your account information on Arlington Bank Online.

How far in advance can I schedule a payment?

You can schedule a single payment for up to 360 days in advance.

How secure is the Arlington Bank Bill Pay service?

When you come to the Bill Pay website, a secure connection is established that prevents any outside parties from viewing transaction information. Any data that is transferred between locations is also made over secure connections utilizing data encryption, and all account information is kept behind a firewall to prevent any outside access.

How soon are funds actually taken out of my account?

Bill payments are debited from your account on the processing date you requested.

How soon can I start making payments?

It takes approximately one business day for your enrollment form to be processed and for you to receive confirmation via e-mail. Your welcome letter will contain all the information you need to begin making payments.

If I currently have an automatic debit for a bill coming out of my checking account, should I cancel this debit and use my new bill pay programs?

It is recommended that you NOT cancel any auto debit UNLESS your new bill payment program has the ability to electronically remit this payment to your merchant. Merchants who have their own debit program will often times NOT ALLOW 3rd party processors to remit payments to them. Our main concern is that your bill be paid in a timely manner and safely.

Is there anyone I cannot pay through Arlington Bank Bill Pay?

Payments outside the United States cannot be processed.

Should the processing date I give be the date the payment is actually due?

No. You need to allow at least five business days for payments to reach your payee. Be sure to remember that although you can schedule a payment at any time, payments are actually sent to payees on business days.

What happens if I don’t have enough money in my account to cover a bill payment?

If funds are not available on the requested processing date, your bill payment will be cancelled.

What if I have a question and want to talk to a real person?

Call Bill Pay customer service at 1-866-820-1301. Bill Pay Customer Service is available from 7:30am to 5:30pm EST. The service is closed on all Federal Holidays.

What is Arlington Bank Bill Pay?

Arlington Bank Bill Pay is an added service to Arlington Bank Online users that allows subscribers to pay bills online 24 hours a day, 7 days a week.

Customer Service

How do I download my account information into money management software?

Customers have the ability to download, import and reconcile transactions in comma separated (CSV) format, Intuit Quicken and Intuit Quickbooks.

  • Login to Arlington Online Banking.
  • Click on the account from which you wish to export the details.
  • Click on the Transactions tab.
  • Using the date range selector, select ‘This Month,’ ‘Last Month’ or ‘Date Range.’ If necessary, enter in the date range and click Search.
  • Click on Export and then select the format you wish to export.
  • You will be given the option to Open, Save/Save As or Cancel. It is recommended that you select Save As and select the location on your computer to save the file.
  • Follow your money management software’s importing instructions to import the data.
How do I reorder checks?

Within Online Banking, select ‘Support,’ then ‘Support Center.’ Click on the dropdown ‘Choose a form to submit’ and select ‘Reorder Checks.’ Fill out and submit the form.

To reorder checks, you can stop in to one of the three branches, or call Customer Service.

What do I do if I receive an error message during an Online banking session?

If there is anything our system cannot process, an error message with a description of the problem will be displayed. In most cases, you will be able to fix the problem based on the error message. Most errors will allow you to return to the previous page, or let you try again to correct the problem and resubmit your request. If you need to contact Customer Service, please communicate the details of the error message.

Who can I contact for assistance regarding Arlington Bank Online?

If you require additional assistance with Arlington Bank Online, contact Customer Service.

E-Statements

Can I get a periodic online statement without signing up for ABO Electronic Document delivery?

No, you must be signed up for Arlington Online Banking. Our Online Banking is packed with features to help you. More information on Arlington Online Banking can be found on our website under Online Banking & Bill Pay.

Can I have my Online Statement sent directly to my email address?

No. For enhanced security we send emails that your statements are ready for you to view online.

Can my loan statements be delivered via Arlington Bank Online?

Not at this time. However, you can still receive your loan statements electronically and securely. Please contact the lending department for additional information.

How can I get Adobe Reader?

You can obtain a free copy at adobe.com. A link to the download can be found on your Statements tab in your Online Banking account.

How do I cancel my Online Statements and Notices?

You may cancel your Online Statement service at anytime by creating a Support Request though the Support Center. Or you can always talk to a bank employee during a visit to any of our branches.

How do I know I will be able to view my statement or notice?

Once a statement is delivered you will need to complete a verification process. During this process you will click on ‘Bank Statement Verification Click Here’ which will open a document. Once opened, you will need to ‘Click here to Verify.’ Your account delivery will then be verified and your statement will be listed.

How do I save my Online Statement for future reference?

Your Online Statements and Notices are archived within Internet Banking for twelve (12) months beginning with the first statement you receive electronically. You are also able to save the .pdf onto your computer by selecting ‘Save’ during opening. You are responsible for keeping the saved documents secure.

How do I sign up for Arlington Bank Online Banking statements?

For each account, go to the Statements tabs, read and accept the agreement. You will be asked to enter your email address.

How long will it take to set up Online Electronic Document delivery?

Once you have enrolled you will see your first Online Statement the next business day following the day your statement cycle ends.

Is the information on my Online Statements secure?

Yes. Your documents are not sent to your email. You will receive an email from The Arlington Bank alerting you that a statement or notice is waiting for you online. You then log on to Arlington Bank Online to retrieve it within the secure environment of our Online Banking site. Always treat printed and downloaded versions of your Online Statement as you do any personal financial information.

Is there a charge for Online Statements?

No, Arlington Bank Online Electronic Document delivery is provided at no additional cost for Arlington Bank customers.

What are the system requirements?

A computer or device with broadband internet connection that has an internet browser that supports 128-bit (or better) encryption. The computer or device must have sufficient memory to view electronic statements. The following browsers are required for you to receive and use our service: Microsoft Internet Explorer version 7.x or 8.x, Mozilla Firefox version 2.0 or higher, Opera version 8.0 or higher, Google Chrome 4.0 or higher, or Apple Safari version 2.0 or higher. If you do not have the latest version of one of the referenced browsers, you can go to the web site of these developers and download the appropriate version of the browser you need. To view your account documents, Adobe Reader X 10.x or greater is required. This product is available for free download at www.adobe.com

What if there is a transaction that has posted to my account that I do not recognize?

Sometimes merchants will pre-authorize an amount for a slightly different amount than the purchase, but they will clear for the correct amount. For example, if you “pay at the pump” at a gas station, the gas station often authorizes a $1 charge to ensure that thecheck or debit card used is valid. When the purchase clears, the $1 amount will be replaced by the correct amount when it posts to your account. If the transaction posts to your statement for an incorrect amount, see the back of your statement for instructions on how to handle non-authorized transactions.

What is Adobe Reader and why do I need it?

Adobe® Acrobat® ReaderTM is free software used for viewing and printing of electronic forms. You will need this software installed on your computer in order for your computer to display or print your statement and images.

What is Arlington Bank Online statement delivery?

The Arlington Bank’s Electronic Document delivery is an electronic version of your deposit statements. An Email is sent to your e-mail address each month notifying you that you have documents ready for you to view online. You can view and print your statements and notices right from your computer and eliminate the traditional mail delivery method.

Enrollment

Can I access Arlington Bank Online from outside of the United States?

Yes. You can access your accounts and Arlington Bank Online Bill Pay services from anywhere in the world, as long as the computer that you are using meets the minimum System Requirements.

Can I download my account history into my personal financial management software on my PC?

Currently, customers have the ability to download their account history into current versions of Intuit Quicken and Intuit Quickbooks.

How do I change my password?

To change a current password, log into Arlington Online Banking.  Click on ‘Settings’ and then ‘Password.’  Enter your current password and then the new password twice, and click on ‘Submit.’

On the change password screen, you must first enter your current password. Enter a new password (reminder- passwords must be 8-17 characters in length and contain at least one upper case letter, a lower case letter, a number and a special character) and confirm that password in the next box. Click ‘Submit.’

You will be returned to your Accounts List screen if your password has effectively been changed.

If you receive an error message that your password could not be changed, check to make sure you have entered the correct password. Remember that passwords must be 8 to 17 characters in length and contain at least one upper case letter, a lower case letter, a number and a special character. Passwords are case sensitive. Also, you will receive an error message if you attempt to change your password to your current password. Your new password must be different than the last password.

How do I create a User Name and Password?

Each customer is required to select a unique user name on their online banking enrollment form. An email will be sent to you with a link to begin the online enrollment process. This email is only valid for 3 days. You will create your password during enrollment.

How do I enroll in Arlington Bank Online?

To enroll in Arlington Bank Online, all customers must complete an eServices Agreement & Enrollment Form. Once completed, customers can either mail-in or drop off their enrollment forms to any branch office.

How do I use Arlington Bank Online?

After you log in to Arlington Online Banking, a list of your accounts and the respective balances in those accounts will be displayed. For further detail on an account, or to execute a transaction, click on the masked account number next to the account name that is shown. Once the account information screen is displayed, there are numerous buttons that will allow you to initiate many different types of transactions.

When you have completed your Arlington Online Banking session, click the ‘Log Out’ button at the top of the screen so that your session will be terminated. If you forget to log out, the systems will terminate your session automatically after a few minutes. You must log in again using the login form on the homepage to re-enter the Arlington Online Banking system.

How soon can I access Arlington Online Banking after I enroll?

Each customer will be notified via the provided e-mail address as to when they can start using Arlington Online Banking. We expect to have your access available within one full business day of enrollment.

What do I do if I forget my password?

If you forget your Arlington Online Banking password, you can click on the ‘Forgot Password’ link found in the login box. You will be prompted with a security question. After answering the question, click ‘Submit.’ An email will be sent to the email address on file including a link and instructions for resetting your password. This link is only valid for 24 hours.

You can also call Customer Service to have your password reset. Arlington Bank employees do not have access to current password information. A new password will be created for you and you will be required to change it again at first login. If your password has been compromised, contact Arlington Bank immediately, or you can change it online at any time. We cannot accept notifications of lost or stolen passwords via e-mail.

What happens if I become locked out of Arlington Online Banking?

You can become locked out of the Arlington Online Banking system for lack of use and for entering inaccurate User Name or password information. User names and passwords must be kept active to continue use of Arlington Online Banking. Logging into the service will keep your account active. Access IDs and passwords will be dissolved after 180 days of inactivity. You must contact Customer Service be re-enrolled.

For security purposes, Arlington Bank Online allows users 3 attempts to log-in to the service. After 3 failed attempts to enter your User Name and password correctly, you will be locked out of Arlington Bank Online. You will need to call Customer Service to be allowed back into the system. You will be given a temporary password that you will be required to be changed at next login.

Why have I been logged out of Arlington Bank Online when I did not click the ‘log out’ button?

For security purposes, the system will log out users who are inactive on the system for 15 minutes. If you are logged out automatically and you would like to continue your online banking session, use your access ID and password to login again.

General

Can I pay my bills online using Arlington Online Banking?

Yes. Once you have enrolled in Arlington Online Banking, you may apply for Arlington Bank Online Bill Pay. Once approved, you can view, post, and send payments online.

How is my personal information protected within Arlington Online Banking?

The Arlington Bank makes every effort to protect the confidentiality of every customer’s account information. There are strict policies and procedures that we follow in order to protect the confidentiality of your information. It is strongly suggested that you not share your access ID or password with anyone. Only authorized users can access account information. Also, remember that an Arlington Bank employee will never ask you for your password or be able to tell you your password, should it become lost. If you feel that your password has been compromised in anyway, contact Customer Service.

How much does Arlington Online Banking cost?

Arlington Online Banking is offered to Arlington Bank customers free of charge.

What do I need to enroll in Arlington Online Banking?

To enroll in Arlington Online Banking you must have one of the following:

  • An Arlington Bank Checking or Savings Account
  • An Arlington Bank Certificate of Deposit or IRA
  • An Arlington Bank Home Equity Line of Credit
  • A Loan Account with The Arlington Bank

To enroll in Arlington Bank Online Bill Pay you must have an Arlington Bank Checking Account (Premium or Basic) in good standing and you must also be enrolled in Arlington Online Banking. You will be notified once you are approved to use Arlington Bank Online Bill Pay.

What is Arlington Online Banking?

Arlington Online Banking is an internet banking service available to Arlington Bank account holders. Once enrolled, customers can enjoy account access 24 hours a day, 7 days a week.

What services are available with Arlington Online Banking?

Through Arlington Online Banking, customers are able to:

  • View & verify your account balances
  • View check images
  • Transfer funds between your Arlington Bank accounts
  • Review account history
  • Nickname your accounts
  • View current deposit rates
  • View current Arlington Bank Loan Accounts
  • Make payments from your Arlington Bank Deposit accounts
  • Transfer available credit from your Home Equity Line Of Credit into your deposit accounts
  • View Posted/Paid Interest
  • Get a statement electronically
  • Turn debit cards on/off
  • Create subaccount users
What are credit scores?

A credit score or credit scoring (such as FICO, developed by Fair Isaac & Co and used by Experian; BEACON; developed and used by Equifax; or EMPIRICA, developed and used by Trans Union) is a method of determining the likelihood that a credit user (you) will pay their bills. Fair Isaac began its pioneering work with credit scoring in the late 1950s. Since then scoring has become widely accepted by lenders as a reliable means of credit evaluation. A credit score attempts to condense a borrowers credit history into a single number. Fair, Isaac & Co. and the credit bureaus do not reveal how these scores are computed. The Federal Trade Commission has ruled this practice to be acceptable.

Credit scores are calculated by using scoring models and mathematical tables that assign points for different pieces of information that best predict future credit performance. Developing these models involves studying how thousands, even millions, of people have used credit. Score-model developers find predictive factors in the data that have proven to indicate future credit performance. Models can be developed from different sources of data. Credit-bureau models are developed from information in consumer credit-bureau reports.

Credit scores analyze a borrower’s credit history considering many factors such as:

  • Late payments
  • The amount of time credit has been established
  • The amount of credit used versus the amount of credit available
  • Length of time at present residence
  • Negative credit information such as bankruptcies, charge-off’s, collections, etc.

There are really three credit scores computed by data provided by each of the three bureaus––Experian, Trans Union and Equifax. Some lenders use one of these three scores, while other lenders may use the middle score and still others may use all three.

How can I increase my score?

While it is difficult to increase your score over the short run, here are some tips to increase your score over a period of time:

  • Pay your bills on time. Late payments and collections can have a serious impact on your score.
  • Do not apply for credit frequently. Having a large number of inquiries on your credit report can lower your score.
  • Reduce your credit card balances. If you are “maxed” out on your credit cards, this will affect your credit score negatively.
  • If you have limited credit, obtain additional credit. Not having sufficient credit can negatively impact your score. Normally lenders like to see you have at least five (5) credit accounts not including utilities (such as telephone, gas and electric companies) and oil company credit cards.
What if there is an error on my credit report?

If you see an error on your report, you must contact the credit bureau yourself to rectify it. The three major bureaus in the U.S., Equifax (1-800-685-1111), Trans Union (1-800-916-8800) and Experian (1-888-397-3742) all have procedures for correcting information promptly.

Security and System Requirements

Do I have to log off of Arlington Online Banking after every login?

As a safety precaution, Arlington Online Banking will log users off after 15 minutes of inactivity. You will be able to log back into the system again after your session has been terminated if you wish to continue internet banking.

When you have finished your internet banking activity, be sure to log out by clicking the “Log Out” button at the top of the screen.

How do my user name and password protect the security of my transactions?

Arlington Online Banking provides each user with three login attempts. After the third unsuccessful attempt, your user name will be locked out from the system for 24 hours. After 24 hours, you will be able to attempt to log into Arlington Online Banking again. If you need to be unlocked from the system sooner or have forgotten your login information, contact Customer Service and you will be issued a new password.

We have added an additional layer of security by displaying an authentication image and phrase each time you log in. This multi-factor authentication helps protect your information. This additional layer of security is set up during the enrollment process.

Always log off of each Arlington Online Banking session. As an additional security measure, the system will automatically log users off after a period of inactivity. If your internet banking session is terminated before you have had a chance to complete transactions, simply log in again.

Please also remember never to share your user name or password with anyone. An Arlington Bank employee will never ask you for your password, either in person, via telephone or via e-mail.

Is Arlington Online Banking secure and confidential?

While it would be impossible to guarantee absolute confidentiality for data transmitted over the public internet, there are many things that we do to protect to your information to the best of our ability. Arlington Online Banking operates through a system of firewalls and intrusion detection systems, which form a barrier between the internet and our internal systems. All incoming information is routed to the firewall and intrusion detection systems, which verifies the source and destination of each piece of information. All of the information that passes through our network is encrypted; the information is scrambled in such a way so that it can travel faster and more secure from your computer to our network. The Arlington Bank offers the most powerful encryption available – 128-bit SSL. Once your information has passed through the firewall and intrusion detection systems, it is subject to additional internal security procedures common to our ATM and TELBANK services.

What are the system and browser requirements for Arlington Online Banking?

All you need is a computer, internet access, and Adobe Reader X (version 10.x).

The following is a list of certified browers for Arlington Online Banking:

  • Apple Safari 4.0
  • Apple Safari 5.0
  • Apple Safari 5.1
  • Google Chrome
  • Internet Explorer 9
  • Internet Explorer 10
  • Internet Explorer 11
  • Mozilla Firefox
  • Opera

Arlington Online Banking uses 128-bit encryption to ensure your account information is protected over the internet. You will need a 128-bit encryption web browser to access and operate Arlington Online Banking. To learn your browser’s current encryption level, please do the following:

  • Microsoft Internet Explorer users: In Internet Explorer, click the “Help” menu and select “About Internet Explorer.” Look at the “Cipher Strength.” If the Cipher Strength is anything lower than 128-bit, you will need to upgrade your browser before using Arlington Online Banking.

With Microsoft’s announcement to stop delivering security updates to Windows XP as of April 8, 2014, we recommend that you use Windows 7 or 8.


Mortgages and Loans

What is the difference between pre-qualifying and pre-approval?

A pre-qualification for a specific loan dollar amount is based on a review of basic financial information you supply to us. No verification of this information is performed. The pre-qualification means that if the information you supplied to us is accurate, subject to verification of credit, appraisal of the property and the lender’s underwriting criteria for the loan amount, you should be able to receive a loan as described in the pre-qualification letter or document. This is not a final approval. A pre-qualification is not a commitment to lend. However, a pre-qualification letter indicates to you and the seller that in the opinion of the loan officer, you are qualified to purchase the house on which you are making an offer.

Pre-approval is a step above pre-qualification. Pre-approval involves verifying your credit, down payment, employment history, etc. Your loan application is submitted to an underwriter and a decision is made regarding your loan application. If your loan is pre-approved, the lender will loan you money on the basis that you requested subject to a satisfactory appraisal (both as to value and type of product), your financial condition remains as stated on your application, and satisfying any underwriting conditions from the lender.

Getting your loan pre-approved, rather than simply prequalified, allows you to close very quickly when you do find a house. A pre-approval may help you negotiate a better price with the seller.

What are credit scores?

A credit score or credit scoring (such as FICO, developed by Fair Isaac & Co and used by Experian; BEACON; developed and used by Equifax; or EMPIRICA, developed and used by Trans Union) is a method of determining the likelihood that a credit user (you) will pay their bills. Fair Isaac began its pioneering work with credit scoring in the late 1950s. Since then scoring has become widely accepted by lenders as a reliable means of credit evaluation. A credit score attempts to condense a borrowers credit history into a single number. Fair, Isaac & Co. and the credit bureaus do not reveal how these scores are computed. The Federal Trade Commission has ruled this practice to be acceptable.

Credit scores are calculated by using scoring models and mathematical tables that assign points for different pieces of information that best predict future credit performance. Developing these models involves studying how thousands, even millions, of people have used credit. Score-model developers find predictive factors in the data that have proven to indicate future credit performance. Models can be developed from different sources of data. Credit-bureau models are developed from information in consumer credit-bureau reports.

Credit scores analyze a borrower’s credit history considering many factors such as:

  • Late payments
  • The amount of time credit has been established
  • The amount of credit used versus the amount of credit available
  • Length of time at present residence
  • Negative credit information such as bankruptcies, charge-off’s, collections, etc.

There are really three credit scores computed by data provided by each of the three bureaus––Experian, Trans Union and Equifax. Some lenders use one of these three scores, while other lenders may use the middle score and still others may use all three.

How can I increase my score?

While it is difficult to increase your score over the short run, here are some tips to increase your score over a period of time:

  • Pay your bills on time. Late payments and collections can have a serious impact on your score.
  • Do not apply for credit frequently. Having a large number of inquiries on your credit report can lower your score.
  • Reduce your credit card balances. If you are “maxed” out on your credit cards, this will affect your credit score negatively.
  • If you have limited credit, obtain additional credit. Not having sufficient credit can negatively impact your score. Normally lenders like to see you have at least five (5) credit accounts not including utilities (such as telephone, gas and electric companies) and oil company credit cards.
What if there is an error on my credit report?

If you see an error on your report, you must contact the credit bureau yourself to rectify it. The three major bureaus in the U.S., Equifax (1-800-685-1111), Trans Union (1-800-916-8800) and Experian (1-888-397-3742) all have procedures for correcting information promptly.

Do I need flood Insurance?

Lenders may not lend you money to buy a home in a flood hazard area unless you pay for flood insurance. Your lender may charge you a fee to check for flood hazards. You will be notified if flood insurance is required. If a change in flood insurance maps brings your home within a flood hazard area after your loan is made, your lender or servicer will require you to buy flood insurance at that time.

What are your rates?

The first question customers usually ask when calling a lender is “What are your rates?” Because of the number of mortgage programs available, most lenders have several products.

Getting a rate quote is just a small part of shopping for a mortgage and usually not the best way to select a lender. Customer service, professional staff, additional fees charged, convenience and flexibility are some of the key factors in selecting the best lender for your needs.

In helping you determine a rate, you will need to provide answers to a few basic questions, like:

  • What is your purchase price?
  • What loan amount are you looking for or what loan amount do you want to finance?
  • Do you prefer a fixed rate or an adjustable rate mortgage?
  • How long do you plan to live in the house?
  • What charges are included on the Good Faith Estimate provided by the lender?

Again, the critical ingredient is the experience, reputation and credibility of your lender.

What happens if my loan gets sold or my lender goes out of business?

The simple answer is, the only thing that would change is to whom you make your payment. You will still have to pay your mortgage. The terms of your mortgage will not change, nor will the requirement for you to pay on time.

Should I refinance?

Yes, if it saves you money, allows you to obtain a new loan that better fits your circumstances, or converts you out of a mortgage type you don’t want. Money savings is an obvious reason to refinance, but not necessarily easy to calculate.

How do I send my updated financial information to The Arlington Bank?

Complete the personal financial document  and send it to The Arlington Bank