Five ways to make the loan process
We should say that "working with us" is the first
way! When you let us help you find the loan that's right for
you, you truly are taking advantage of some of the area's
best technology and expertise to get you a loan decision and
funding on your loan quickly.
But here are five "other" ways you can speed up
the process of getting a mortgage loan:
1. Have everything ready and in one place.
Elsewhere on our website, you'll find a list of things you
might need in support of your mortgage application. If you
get them all together and keep them in a safe, portable place
like a special pouch or folder, you can cut down on time spent
rooting around for things we may need. Also, you'll help cut
down on your own anxiety and confusion.
2. Be honest and complete when you fill out your
application. "Fudging" your employment
or residence history or omitting open credit accounts you'd
rather not have considered doesn't increase your chances of
getting a favorable loan. In 100 percent of cases, it makes
it harder, and take longer.
3. Respond promptly to requests for additional information.
During processing, we or the lender considering your loan
may need additional information. Provide it as soon as you
get the request, or return the call as soon as you get the
4. Be prepared to explain derogatory items in your
credit report. This is really part of number 2 above.
If you had an illness or a divorce where you missed or made
late payments, or you have other instances of late payments
or delinquencies on your credit report, be prepared to explain
them. Be honest, and don't be nervous! The loan processor
isn't judging you, they're trying to fill in all the blanks
in their paperwork.
5. Let the appraiser in! The appraisal is
one of the lengthiest parts of the mortgage loan process.
Studies have shown that the single biggest factor in appraisal
"lag time" is the appraiser's inability to reach
the homeowner to make an appointment. If you're refinancing
and the appraiser calls to make an appointment, make it as
soon as convenient for both of you.
And remember that the appraiser doesn't want to buy
your house. He or she will say what the house is
worth clean and tidy and in reasonable repair, even if you
have some dirty laundry on the laundry room floor or dirty
dishes in the sink. Cleaning doesn't get you a higher appraisal!
Letting the appraiser in as soon as possible gets you a loan
We offer a wide range of services including real estate sales,
financing, and property management. Call us today for a free
consultation @ 916-482-6899 or email us at email@example.com.