The Mortgage Minute |
The Mortgage Minute |
Preparing in advance of house-shopping is the best thing a homebuyer can do. There are several reasons why it is helpful to prepare in advance:
1. Clear understanding of the process: By talking to a mortgage advisor early on in the process, clients can become familiar with the offer process, the steps needed to secure a mortgage, and their options available. 2. Reduce the time needed for mortgage financing approval: When the majority of documents are prepared and on hand, the mortgage application can be submitted to a lender much more quickly, and the lender will be able to review the application and supporting documents up front, meaning the approval can be wrapped up in just a few days. 3. Reduced stress: The joy of a new home purchase can quickly turn into a stressful time when scrambling to find documents, discuss rates/lenders, ideal timelines, etc. Preparing in advance provides more lender options, more rate options, and an overall more enjoyable process. The process starts with a simple phone call, and doing a bit of pre-work up front can save you money and energy later on.
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AuthorPaul holds a Master's degree in Business Administration, loves to golf, watch hockey, and drink black coffee. Archives
February 2024
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