We live in a world where instant gratification is everything, but the home loan process takes time, so we'd like you to know The 4 Biggest Mortgage Mistakes that can slow down the process.
This should be pretty obvious but it never fails that someone doesn't fill us in completely on their financial history, they 'forget' to mention bankruptcies, foreclosures, getting their cars reposessed. When you're filling out your pre-approval application, be honest; because we'll have to come back and verify all that information later in the process, and that means more stress for you and for us as well.
2. Changing your spending behavior.
The second of the The 4 Biggest Mortgage Mistakes we'll reveal is to know that when you're going through the mortgage process in Kansas City Missouri and everywhere in the country is a big deal, you're basically asking a local mortgage lender to give you a huge some of money and promising that you're going to pay it back, So it shouldn't seem odd that your lender is going to want to see if you pay your bills on time and actually pay them back. One of the areas that those home loan lenders will want to see is that you're not acting crazy with your money. This means don't go out and buy a boat or furniture before you close on your house, just keep steady with your spending.
3. Not turning your documents in quickly.
Everyone wants your mortgage to close on time, and mortgage lenders often stake their reputation on getting deals done on the day they promised. That can be difficult if when they ask you to trun in documents you're slow to get them to us or send us incomplete documents, so make sure you're getting us the documents we need as quickly as possible, that's why we talk about being a local Lee's Summit MO lender, so you know where to find us geographically.
4. Not Getting Pre-approved
The Boy Scout Motto is "Be Prepared," and that might as well be the mortgage lender's motto as well, and getting pre-approved for your home loan is a great way to take the right step towards purchasing your home. Pre-approval simply means that mortgage lender has looked at your income and expenditures and verified an amount you can afford to spend on a home.
If you want to work with Darren Copeland and his team at KC Loan Tips, feel free to call 816-268-4025 and chat with them about your mortgage loan options. We're glad that you've found us online and we hope you can avoid The 4 Biggest Mortgage Mistakes.