How to Speed up the Mortgage ProcessMortgage Process Tips Once complete, your application will be given to a processor in the mortgage company. Tip #1: To speed up the process, be sure to respond promptly to requests for information while processing is taking place. Tip #2: Some items are commonly requested during processing that may not have been collected during the application. Be sure to get these items as quickly as possible, if requested, so your mortgage may proceed in a timely fashion. These items may include: The processor is collecting this information before presenting it to an underwriter. That is why prompt attention to the processor’s request is very important. A delay in responding will delay the whole process. The processor then submits the loan file to underwriting. An underwriter reviews all the information in your loan file to determine if the application meets the lender guidelines. Tip #3: Sometimes the underwriter requires additional conditions to be met before approval. Responding to the request for additional conditions quickly will keep things moving along in a timely fashion. With approval, a lender should give you a letter of commitment, which is a promise from the lender to make a loan based on specific terms and conditions. Since the file goes through several hands before approval, your prompt attention to the above tips can help speed up the mortgage process. Remember, processors and underwriters are processing more files than yours. So any delay puts your file on the back burner. Respond quickly, that’s the key to speeding up the mortgage process. Also, feel free to visit any our sponsors by clicking on the links you find that interest you most. Lastly, if you would like to leave How to Speed up the Mortgage Process and return to our First Time Home Buyers - Home Buying Process main page, click here. Or return to First Time Home Buyers home page.
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