It’s a busy time for loan closings. The combination of low rates, low home prices, active home sales, and additional layers of mortgage regulations have made loan fundings a little more challenging than in the past.
How can you make this process as easy as possible on yourself?
Two words: patience and responsiveness.
Try to have a 24 hour personal turnaround time when providing paperwork and documentation to your underwriter. Not only does responsiveness keep the workflow going quickly on your file, but there is less of a likelihood that you will miss your rate lock deadline.
Disclose everything upfront. Your lender will find out anyway, so don’t under-disclose important facts.
Be accessible. Your lender will often want to contact you by phone or email. Don’t lose days playing “phone tag”.
When required, schedule your appraisal for as soon as possible. It’s easy to lose days to this part of the process.
And, lastly, don’t challenge an underwriter’s request for “more paperwork”. Lenders want to see as little paper as possible. They don’t ask for information that’s not required to approve your loan.
We are here to serve you!
Questions about your refinance or purchase? Call me at (707) 763-6290 or visit us on the web at www.emortgages.com.