Five ways to make the loan process go faster - Directions Equity Home Loan

Five ways to make the loan process go faster

We are all on the same Team now. Our goal is to get your loan approved and closed as fast as possible, and with the minimum amount of hassle. We promise not to ask for anything unless it is required by the underwriter.

But here are five "other" ways you can speed up the process of getting a mortgage loan:

1. Bring in all of the documentation we ask for. Elsewhere on our website, you'll find a list of items for your application. The sooner we have them, and any other documents we request, the sooner we'll have our "clear to close" notice from the underwriter. Please don't wait until the last day to choose your homeowners insurance.

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 inquiries on your credit report. The lenders need to make sure you haven't opened any new accounts that don't show as liabilities yet on your credit report.

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.

Our Mission is to help you find the best mortgage program for your short and long-term goals. The loan process can be intimidating and frustrating, and there are many new disclosure forms that can be confusing. Barbara and Don Coker promise a level of personal service that you can't get through an anonymous internet lender. We are Texas residents, and both Affiliates of the Year at the San Antonio Board of Realtors. Our 25+ years of service to Texas Homeowners speaks to our commitment and professionalism. Call us at 210-842-4185 for honest advice. We are here for you!