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.
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.
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