How to Impress Your Mortgage Lender

Getting a mortgage and facing a mortgage lender can be pretty intimidating, we understand that. You always want to go into the process trying to impress the lender with your financial situation. The following are some of the best ways you can impress your mortgage lender. It is one thing to want to put your best foot forward, it is quite another to actually do so. Make sure you are ready to enter into this situation, and that you fight until you have gotten the best deal. We can tell you right now that it will not impress your mortgage lender if you enter into the mortgage process but give up half way through. Keep up the good work.

Have Your Paperwork in Order

This might sound simple, but the mortgage lender will be impressed if you have your paperwork in the correct order. It will be frustrating for them if you have to continue to call them back, or put them on hold while you try to find important information. Before you go call your lender, make sure you have your paycheck stubs, W-2s, bank account statements, and other financial documents right in front of you. This way you can recall the information at a moment's notice. This is something that will impress your lender the entire life of your mortgage. The mortgage lender will need to verify a lot of information, which they want you to help make it easy for them. The more you help them, the more they help you.

Remain Stable on Your Debt Burden

When people qualify for a mortgage they like to go out and celebrate. For some people this means buying a new car, a boat, or a lot of new furniture for the home. This is something that can scare off a lender. When you file your application, you will then be pre-qualified. This does not mean you are free and clear. Your credit will often times be rerun right before closing. If they see all of this debt that you have run up, the lender might not want to give you the loan anymore. An increased debt burden is never what they want to see. Remain strong and stable with your credit while you are speaking to them about getting a loan. The slightest thing could scare them away. Even into the life of your mortgage you need to remain stable on your debt burden.

If They Request a Document, Let Them Have It

The mortgage lender does not want to be challenged for every request they might have on a financial document. If they ask for something, give it to them, otherwise they might be wondering what you are hiding from them. You do not want them to think you have something to hide. The lender will be able to find out financial information anyways, so it is best that they hear it from you first. These documents need to be handed over quickly because that will help start the mortgage process quickly. You do not want to spend all your time fighting with them and challenging why they need information. If you play the game correctly, everything will work out like you want it.