Today's mortgage process can seem a bit overwhelming to some Borrowers ...
And that's true whether those Borrowers are First-Time Home Buyers or those that have bought a home a dozen times.
In comparison with financing conducted during the mid-2000's, today's mortgage process has become a more demanding process for Borrowers with regards to:
- Documentation needed
- Verifications requested
- Time and Attention demanded
So there are some reasons for this to occur ...
With that in mind then, is there anything Borrowers can do to protect themselves from becoming overwhelmed during the processing of their mortgage?
I've found that the two following issues seem to be the issues that trip-up my Borrowers most often:
1. Refusing to just "give in" to the process for the duration of their transaction.
Truth is, there's no way to get around the process ... or an Underwriters' request(s). Don't battle it. You either produce the information, comply, or you don't close.
2. Inconsistent attention is given to the processing of their loan, communications, and requests for information.
Borrowers simply can't ignore communications or pay attention sporadically. They must be remain consistently involved throughout the entire process.
Borrowers that choose to address and conquer these two hurdles fare far better throughout their mortgage processing. They don't become overwhelmed by the process.
They flow through their processing more easily and quickly. Enjoy their transaction far more. And have a much better chance of closing on their home on time.
The stress and success levels of a mortgage process can be greatly dictated by the personal choices YOU, the Borrower makes.
Choosing to communicate in a timely fashion ... and being thoroughly involved from beginning planning stages to completion of Closing ... are both wise decisions that will help ensure your transaction's outcome.
It remains your decision ...
* Hoping to buy a home in Illinois/Chicagoland or WI? Contact me today. I'll put my 37 years of mortgage experience and expertise hard to work on your behalf.
I can be easily found at:
Mortgage Lender - NMLS #216987 - IL Lic. #0006220 - WI Licensed
American Portfolio Mortgage Corp.
Mortgage Originator - NMLS #216987
IL Lic. #031.0006220 - WI License #216987
Gene Mundt, Mortgage Originator, 40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking: #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including: The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin.
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