Improve your chances of loan approval:
- Fill out the loan application completely. The lender needs all this information to determine your creditworthiness.
- Respond promptly. Don't put off responding to lender requests for additional documentation. Get the documents yourself and hand-deliver them.
- Don't go on a spending spree. Before the sale is scheduled to close, the lender may check your credit report for high credit card balances and your bank accounts to make sure you haven't drained them.
- Make sure the appraisal is done properly. The lender will order an appraisal of the home to ensure that you don't pay too much. If the appraisal is too low, you can fight the report to prevent the transaction from falling through.
Comments(0)