When you fill out an application with Dakota Community Bank & Trust, N.A. you can expect the following:
Each application is evaluated based on your credit history and credit score
A preliminary credit decision will be made
- Make sure you have completed the application fully to insure a faster response
- Our loan officers look at each situation independently from each other and go beyond just your credit score.
- You will be contacted by phone if we need any additional information from you.
Sign loan documents
- You can expect an initial decision to be made the same business day or the day after depending on when the application is received, and if all information is obtained.
Distribution of funds
- If your loan is approved you and any co-borrowers will need to come into the bank to sign the loan documents
- After the loan documents are signed the loan funds will be paid to the seller or lien holder. If there are any additional funds to distribute you and the loan officer will decide where they are sent to.
The process typically takes one to two days after we receive the application; unless additional information is needed.