The mortgage process can be complicated at times which is why it is important to know how to avoid common mistakes. However, just because something is complex, doesn’t mean you can’t find the help you need to get exactly what you’re searching for.
Here at Midgate Mortgage, our collaborative years of experience with all sorts of mortgages give us the edge to get what you need. To speak with one of our experts, call 310-791-0854 and discover how we can help.
Continue reading to learn about four critical ways to avoid common mortgage mistakes.
Make Sure All Documentation is in Order
You are going to need to provide documentation of your finances. Double and triple check they are accurate and complete to ensure your loan team has all the necessary information they need to get you approved.
What type of documents you need to provide varies between loans but typically includes:
- Your loan application
- Certain financial verification documents (W2, paystubs, tax returns, etc.)
- Banks statements and credit reports
Be Attentive and Available
It is important to be attentive to all lines of communication. If you can respond to your loan team as fast as possible, the sooner they can get your loan approved.
Being able to respond within 24 hours is crucial to ensuring the process goes as swiftly as possible. Obstacles do sometimes happen, and you need to be ready to provide anything the team requests.
Maintain Your Current Employment Status
Don’t make a career change until after your loan gets approved. Your current employment status and income play a role in whether or not it gets approved. During this process, try not to make any dramatic changes that could impact the loan.
Of course, things in life can happen that could force your hand in transitioning into a new career. If that does happen, notify your mortgage loan team immediately so they can adjust accordingly.
Ask as Many Questions as You Want
The saying “there are no bad questions” applies to this process. Mortgage loans can be a lot to comprehend and if you have any questions, we will be more than happy to answer them. Our team loves when you engage with the process along with us.
Loans can be very complicated as there are many rules and requirements that must be strictly followed. Leave it to the experts at Midgate Mortgage to get you the exact loan you need. Call us at 310-791-0854 and visit our Contact Page to fill out a quick form.