How to make the loan process go faster
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When you let us help you find the loan that's right for you, you 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.Here are some ways you can speed up the process of getting a mortgage loan:
| Have everything ready and in one place. 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 looking around for things we may need. Also, you'll help cut down on your own anxiety and confusion, or frustration. |
| Be honest and complete when you fill out your application. Inaccuracies on 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 most cases, it makes it harder and it takes longer. |
| 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. |
| 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. |
| Set up the appraisal. 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 possible. |
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