Five ways to make the loan process go faster - WJ Bradley Mortgage Capital Corp (BKBR-0115199)

Five ways to make the loan process go faster

We should say that "working with us" is the first way! When you let us help you find the loan that's right for you, you truly are taking advantage of some of the area's best technology and expertise to get you a loan decision and funding on your loan quickly.

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

1. Have everything ready and in one place. Elsewhere on our website, you'll find a list of things you might need in support of your mortgage application. If you get them all together and keep them in a safe, portable place like a special pouch or folder, you can cut down on time spent rooting around for things we may need. Also, you'll help cut down on your own anxiety and confusion.

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 derogatory items in your credit report. This is really part of number 2 above. If you had an illness or a divorce where you missed or made late payments, or you have other instances of late payments or delinquencies on your credit report, be prepared to explain them. Be honest, and don't be nervous! The loan processor isn't judging you, they're trying to fill in all the blanks in their paperwork.

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.

And remember that the appraiser doesn't want to buy your house. He or she will say what the house is worth clean and tidy and in reasonable repair, even if you have some dirty laundry on the laundry room floor or dirty dishes in the sink. Cleaning doesn't get you a higher appraisal! Letting the appraiser in as soon as possible gets you a loan faster, though.

Equal Housing Lender. © 2009 W.J. Bradley Mortgage Capital Corp., 201 Columbine Street Suite 300, Denver, CO 80206. Phone #303-825-5670. Trade/service marks are the property of W.J. Bradley Mortgage Capital Corp. This is not a commitment to lend. Restrictions apply. All rights reserved. Some products may not be available in all states.

AZ License # BK-0903998; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act RML# 4131002; To check the license status of your CO Mortgage Broker, visit www.dora.state.co.us/real-estate/index.htm; CT Correspondent Lender License No. FMCL 21047; Delaware Lender License No. 010467; Florida Mortgage Lender license #ML.100000098; Georgia Residential Mortgage Licensee, License No. 20233; ID Mortgage Broker License No. MBL-2803; Kansas Licensed Mortgage Company License # MC.0025020; MI First Mortgage License No. FL0011392; Mississippi Mortgage Lender License #4298/2009; MN Residential Mortgage Originator License No. 20447094; NV Mortgage Banker License No. 2061; NV Mortgage Broker License No. 504; NM Mortgage Loan Company and Loan Broker Act Reg. No. 01856; OK Supervised Lender License No. SL007245; OR Mortgage Lender License No. ML-776; TN Mortgage Company Registration Certificate No. 3629; TX Mortgage Banker Reg. No. 74182 with locations in Texas at 2100 W. Loop South, Suite 927, Houston, TX 77027 and 1912 Central, Suite L, Bedford, TX 76021; UT Mortgage Lender Company License No. 5495659-MLCO; Vermont Broker License #0995MB; Vermont Lender License #6141; WA Consumer Loan License No. 520-CL-42624; Wisconsin Mortgage Banker License No. 699991.