Banks Woo Borrowers Who Have Good Credit

Banks have plenty of money available for borrowers with great credit and a desire for a conventional fixed rate mortgage, says James Chessen, chief economist for the American Bankers Asociation.

To attract these customers, lenders are offering fee waivers, competitive interest rates, and a willingness to negotiate.

Banks like conventional borrowers because they tend to be the kind for customers that will take advantage of other products from the lender, including savings accounts, credit cards, and checking accounts.

Deals like this make it important for borrowers with good credit to shop around and compare different incentives, experts advise.