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. http://t.money.msn.com/real-estate/what-you-need-to-apply-for-a-loan#image=11

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