It's true, first impressions do count, and there is no exception when it comes to home loan financing and working through the mortgage loan underwriting process.
An organized and well thought out loan application should address, in advance, any potential questions that may eventually be raised by the underwriter. Doing so, will take less time, effort and research for the underwriter to approve.
Although each borrower's loan application will have different strengths and weaknesses, presenting yourself in the best light, at the outset, will result in the best chance of getting your loan approved.
Addressing shortcomings in your borrower financial profile now will guarantee a much smoother process with a more predictable rate of success down the road.
Putting your best foot forward on the loan application is all about preparation.
The application or "1003" as it's referred to by loan officers, is the financial "picture" of you that the lender will see.
Prior to filling out and submitting the application, there are steps you can and should take to make it better.
TheMortgageSavvy.com is an informational website, designed, written, owned and operated by Todd Grey, an NMLS (#1594405) licensed Mortgage Loan Officer. Todd Grey represents Equity Smart Home Loans, Inc. NMLS #856170 and CALBRE #01906808. The views and opinions expressed on TheMortgageSavvy.com are those of the authors.