Speed Your Mortgage Approval by Following This Checklist

Reblogger Gabe Sanders
Real Estate Agent with Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales 3090099

Some excellent tips courtesy of Diane Beaumont for those looking for a faster, smoother and hassle free approval of the financing process for their home purchase.

Original content by Diane Beaumont NMLS# 247026

Have you finally found your dream home after months of searching, only to discover that the seller has received other offers? Few circumstances can raise your stress level as much as finding yourself in a bidding war against another buyer. However, being unprepared by not having your finances in order can make the situation even worse. Let's take a quick look at a few ways that you can speed up your mortgage approval if you are in a hurry to buy your next home.

Pull Your Credit Report ASAP

The first step you will want to do is check your credit report so you have an idea what your mortgage lender will be seeing. You can get a free copy from the major credit reporting agencies up to once per year, so take advantage. There are scams out there, so be sure to only request a report from a government-approved credit agency.

Get All Of Your Paperwork Ready Before You Go In

You will want to gather up as much financial documentation as you can before heading in to meet with your mortgage advisor. Pay stubs, tax forms, and bank statements are all going to be required to prove that you are accurately reporting your current financial situation. You will also want to be able to provide reasons for any substantial loans or other transactions that have taken place in the past couple of years.

Share It All And Keep No Secrets

If you want your mortgage approval to come back quickly, it's best to be truthful and hold nothing back during the application process. If you lie or try to gloss over areas that you feel are a bit negative, it can end up delaying your approval. Be straight with your advisor and don't keep any secrets from them.

Work With A Professional Team

Last but not least, if you want the fastest possible mortgage approval you will want to work with a professional team. An experienced mortgage advisor knows the ins-and-outs of the mortgage marketplace. They know which lenders will be able to process quickly and which tend to be on the slower side. If you try to borrow a mortgage from a bank or large lender, you are tied into their process which may not be as quick as you would like.

When you're ready to buy a home, give us a call. Our mortgage team is happy to help you secure your financing, no matter how much of a hurry you might be in. We look forward to assisting you!

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Rainmaker
2,733,734
Sally K. & David L. Hanson
Keller Williams 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce - Short Sale

Great list...though of course the lender will pull his/her own report...it's always good to see if there are any things that need fixing !

Feb 09, 2018 05:06 AM #1
Rainmaker
4,558,297
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Thank you very much, Gabe, for sharing this excellent reblog selection.

Feb 09, 2018 06:23 AM #2
Rainmaker
654,491
Nick & Trudy Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

Great post to share, Share it all with no secrets, good advice for mortgages and with your agent as well. Then they know how to guide and help you.

Feb 09, 2018 07:05 AM #3
Rainmaker
880,075
Gloria Todor
Century 21 Absolute Realty - Media, PA
& Doug Durren (484) 431-3686 in SE PA

Gabe, Good re-blog for Buyers to read over and to know what is important to speed their mortgage approval!

Feb 09, 2018 08:54 AM #4
Rainmaker
4,204,312
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thank you for stopping by and taking the time to read my re-blog.

Mar 04, 2018 05:53 AM #5
Rainmaker
4,204,312
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Thanks for your comments. It’s always good to hear from you.

Mar 04, 2018 05:53 AM #6
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Rainmaker
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Gabe Sanders

Stuart Florida Real Estate
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