The Mortgage Process In The New Real Estate Market

Dated: 05/10/2014

Views: 1459

The mortgage process has changed vastly since the real estate crash of 2007. 

Between the years of 2004 and 2007 the mortgage underwriting guidelines changed to where the only requirement was that you should have a pause. Today the pendulum has swung all the way to the right and the amount minute details required by all mortgage companies can seem excessive however, there is no room for negotiation you either supply the information that they require or you won’t get a mortgage. The key to having a smooth mortgage transaction is to supply all the information that the mortgage provider asks for and preferably in one batch as quickly as possible.  One missing document or piece of information will stop the process dead in its tracks so you may as well give it all to the mortgage on the outset and supply any additional information or document requests immediately. I found a terrific article on MSN money that I believe you will find extremely useful and highly recommend that you review it if you’re about to embark upon your mortgage adventure.

Latest Blog Posts

Looking for a "Quaint Village" to call home?

My family is originally from Virginia, from a bit north of Richmond, and I have to say, moving to Delaware was a bit of a culture shock! My poor husband had never been outside of his neighborhood in

Read More

Retirement communities in Delaware on the rise!

As a former Planner with Kent County, it is clear that Kent County has a lot to offer individuals who are looking for a great place to retire - especially from surrounding states! With our proximity

Read More

Explosive Growth In Millsboro

Plantation Lakes Golf and Country Club is a community with all the finest amenities of a luxury resort.   Homes may include membership in the Arthur Hills Championship Golf Course allowing

Read More

Beyond The Beaches Of Delaware

The beach season is upon us from Lewes all the way south to Fenwick Island, but there is so much more going on beyond the beach. Sussex County offers five state parks to enjoy, the largest of which

Read More