Do you have a steady job and decided the time is right to buy? Check these tips before you venture out to your mortgage broker, and you’ll be ahead of the game! Read more
Don’t Slow Down Your Mortgage Loan Application Process
The real estate market is pretty complicated, and it requires plenty of effort and cash. If you want a dream house, you’ll need help from a trusted mortgage loan company, as the process of applying for and acquiring mortgage loans in South Florida can sometimes be overwhelming. With so many requirements and time constraints, you’ll need to know factors that could further slow down the process so that you can avoid them. Let’s dive into four factors and how you can avoid them when applying for a mortgage loan.
1. Lender’s Readiness
Before applying for a home mortgage, check the service time of the lender to be sure that they can handle your mortgage application in the timeframe you want.
2. Personal Circumstances
The process will flow if you are employed, have a good down payment, and do not have too many outgoings. On the other hand, if your situation is complex – for instance, you just got hired or have bad credit, the process will take longer. Clearly, more documents mean a slower process and more delay in the length of time that the offer would take.
3. Lacking Necessary Documents
Documentation plays a massive role in today’s mortgage world to fast-track your loan application process. Doing otherwise can make the process slower and longer.
Many South Florida mortgage underwriters are critical with documentation and would refuse to accept incomplete documents. Therefore, you are responsible for providing all the necessary documents if you want a faster mortgage application process.
4. Not Using a Mortgage Broker or Advisor
We can’t overemphasize this point. You need the right advice and recommendations on your way to getting a mortgage loan. Mortgage brokers will do everything to make the process faster. Brokers can also help you take the right steps of negotiating successfully.
Pacific Lending Group
A few factors to look at if you want to fast-track your mortgage application. The whole process of buying a home can already be overwhelming and exhausting. Pacific Lending Group can offer you all the advice you’ll need to get your mortgage application underway. Contact us today to learn more at 954-227-4727
Increase Your Chances to Get Approved by a Mortgage Company
Getting your mortgage approved is not as easy as most people think due to specific criteria that need to be met. However, at Pacific lending Group, we have recommendations that you can follow to increase your chances of getting approved for a mortgage loan. Read more
What is the Mortgage Process, and How to Get One?
When you are purchasing a new home, there are several steps that you must follow before closing. While it may appear quite complicated and daunting to get a mortgage, a basic understanding of the overall process can make it easier. Following is a walk-through and tips regarding the mortgage process to get you started: Read more
Parts of a Home Mortgage Plan
Financial experts recommend opting for a home mortgage plan even if you have the financial ability to make the entire cash payment. A mortgage plan provides additional protection to the real estate transaction since banks, title companies, and other authorities also become part of the process. Read more