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 message.
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 faster, though.
Copyright 03/16/10 NH HOME TEAM
Copyright
2010 Northern New England Real Estate Network, Inc. All rights reserved.
This property's agent is from This
information is deemed reliable but not guaranteed. The data relating
to real estate for sale on this web site comes in part from the IDX
Program of NNEREN. Data last updated
March 16th, 2010
NH HOME
TEAM
Box 112 Goffstown NH 03045
1-800-398-3255
