ADR BLOG

We should say that "working with American Dream Residential" is the first way! When you let us help you find the loan that's right for you, you truly are taking advantage of some of the area's best technology and expertise to get you a loan decision and funding on your loan quickly.

But here are five "other" ways you can speed up the process of getting a mortgage loan:

1. Have everything ready and in one place.

   The first thing you need to do is compile all the documentation you will need in support of your mortgage application. You can find a complete list of the required paperwork here. If you get them all 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 things we may need. Also, you'll help cut down on your own anxiety and confusion.

   
   

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. In 100 percent of cases, it makes it harder, and take longer.

   
   

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.

   
   

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 soon as convenient for both of you.

And 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 floor or dirty dishes in the sink. Cleaning doesn't get you a higher appraisal! Letting the appraiser in as soon as possible gets you a loan faster, though.

At American Dream Residential, we pride ourselves on making the mortgage process as smooth as possible for our clients. If you have questions about the mortgage process you’re your rates, give us a call at 919-771-3379. With nearly 25 years of experience in the finance industry and a perfect track record of 0 Better Business Bureau complaints, our team makes sure you are comfortable and happy with your experience.