1. Have Everything Ready And In One Place. Elsewhere on our website, you'll find a list of documents or information that you might need in support of your mortgage application. This list is called the required document list. If you will gather the items together and keep them in a safe, portable place (like a special pouch or folder), you can cut down on time spent rooting around for items we may need as the loan progresses. Also, by taking this action you'll cut down on your own anxiety and confusion. Your loan officer will help you determine specifically which documents are required for your transaction as various loan programs have different information requirements.

2. Be Honest And Complete When You Fill Out Your Application. "Fudging" your employment or residence history or omitting open credit accounts you'd rather not have considered doesn't increase your chances of getting a favorable loan. Rather, 100 percent of the time, it will make it more difficult to get you a loan, and increase the amount of time it takes to do so.

3. Respond Promptly To Requests For Additional Information. During processing, we or the lender considering your loan may need additional information. Provide it as soon as you get the request, or return the call as soon as you get the message.

4. Be Prepared To Explain Derogatory Items In Your Credit Report. This is really part of number 2 above. If you had an illness or a divorce where you missed or made late payments, or you have other instances of late payments or delinquencies on your credit report, be prepared to explain them. Be honest, and don't be nervous! The loan processor isn't judging you; they're trying to fill in all the blanks in their paperwork in order to help the lender make as fair a assessment of your circumstances as is possible.

5. Let The Appraiser In! The appraisal is one of the lengthiest parts of the mortgage loan process. Studies have shown that the single biggest factor in appraisal "lag time" is the appraiser's inability to reach the homeowner to make an appointment. If you're refinancing and the appraiser calls to make an appointment, make it as fast and as soon as is convenient for both of you. Remember that the appraiser doesn't want to buy your house. He or she will say what the house is worth clean and tidy and in reasonable repair, even if you have some dirty laundry on the laundry room floor or dirty dishes in the sink. Cleaning doesn't get you a higher appraisal! Letting the appraiser in to complete their work as soon as possible does get you the loan faster, though.

6. If You Are Going To Be Out Of Town And Unavailable For Even A Day Or Two Let Your Loan Officer Know! Avoid, no answer to phone call requests for information badly needed at the last minute by an underwriter because you are out of town, or worse avoid the issue and time of having to redraw closing documents because you are out of town and can’t close when everything is ready to go.