There's no guarantee how long it'll take to process your mortgage application, but there are things you can do to help ensure a smoother, quicker process.
First, be sure of your credit worthiness, request a copy of you credit report. It will likely be blemish-free, but neverdiscount the possibility that it could contain errors, closed charge accounts may show up as credit available credit, repaid loanscould appear outstanding, or you may discover you've been a victim of identity theft. Address any mistakes now so they don't slow or altogether stop your appplication process later.
Next, gather documents to support the claims you'll be making on your application, include thinks like listing and purchasing agreements, home appraisals, credit reports, pay stubs, income-tax returns, letters from employers, bank statements, list of assets and liabilities and proof of income from sources like rental properties, pensions, alimony or child support. The more information you provide, the faster the lender can make a decision.
When filling out your loan application, do so honestly and accurately. Make sure all information is correct and legible and no questions have been missed.
Once you've filled your application, make sure you can easily reached should your lender require andy further information or paperwork from you, and be ableto respond quickly to such needs. Now is probaly not the time to go on vacation.
Lastly, check in occasionally with your lender to see how your approval is comming along. This will also lessen its chances of getting lost in the shuffle.
While many homebuyers wait until they find the perfect property before applying for a mortgage, you may want to consider having a pre-approved mortgage in hand before even starting your new home search. This gives you the best idea of what you can afford, also gives you the edge when negotiating with a seller who is looking for a swift closing.
I hope that you find the above helpful, if you have any further questions or concerns regarding mortgages or purchasing a property in Lennox and Addington County, and the town of greater Napanee, please don't hesitate to contact me, Dave Pinnell Jr. of Century 21 Lanthorn Real Estate in Napanee. I can be found always on my cellular at 613-328-7213, or email me a email@example.com. Don't forget to check out my and Tracey Dickson's other web site at www.tdrealestate.ca. Thanks and have a GREAT DAY !!!
Dave Pinnell Jr
Sales Representative, Century 21 Lanthorn Real Estate Ltd. Napanee