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Author Topic: How to get a home loan  (Read 578 times)

Offline monu96

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    • Builders in Chennai
How to get a home loan
« on: January 24, 2019, 02:38:01 am »
Hi...
    I am going to apply for a Home loan. Can you suggest some tips to make my loan approval process fast?
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Offline Mdhaas

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Re: How to get a home loan
« Reply #1 on: January 24, 2019, 09:42:16 am »
A speedy loan process is all about your preparation. If you require a cosigner, they will need to follow these steps as well.

Learn more about your mortgage credit score. It is different than the free credit reports that you see advertised. Identify any inaccuracies in it that could be effecting your score. Get them corrected.

Make sure that you have all of the necessary documents in order before applying. You will need to provide recent pay stubs or other income documentation, W-2s, the last few years tax returns and bank or investment account statements.

Donít open up new lines of credit, make any large purchases, or do anything that could jeopardize your application. Don't quit or change your job.

Keep in contact with your lender/broker. If they have any questions or require additional paperwork , respond quickly.
If at first you don't succeed.....................skydiving is not for you

Offline alexteroski

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Re: How to get a home loan
« Reply #2 on: January 26, 2019, 09:40:48 am »
a lot of people probably needed this

Offline monu96

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Re: How to get a home loan
« Reply #3 on: February 01, 2019, 06:13:14 am »
Thanks for sharing the useful reply. This really helps me to proceed further.
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Offline Doujinn

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Re: How to get a home loan
« Reply #4 on: February 02, 2019, 07:25:06 pm »
A speedy loan process is all about your preparation. If you require a cosigner, they will need to follow these steps as well.

Learn more about your mortgage credit score. It is different than the free credit reports that you see advertised. Identify any inaccuracies in it that could be effecting your score. Get them corrected.

Make sure that you have all of the necessary documents in order before applying. You will need to provide recent pay stubs or other income documentation, W-2s, the last few years tax returns and bank or investment account statements.

Donít open up new lines of credit, make any large purchases, or do anything that could jeopardize your application. Don't quit or change your job.

Keep in contact with your lender/broker. If they have any questions or require additional paperwork , respond quickly.

Mdhaas really put in all the practical tips to heed for you and you should definitely follow them. Keep in mind that even foreign non-residents like myself are getting the loan fairly easy as long as you prepare and act in an organized manner with everything that the bank needs. Please remember that it could take the bank 3 to 8 weeks to approve your application. Keep in touch with them, without getting anxious. If you would like to have detailed information on the documents that your application folder should contain, extra costs or additional details like maximum percentage of monthly income for mortgage, you can check the data compiled from the report of National Association of Realtors here.

 




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