What is the loan approval process;
why do some get rejected?
The process of getting a home loan does not have to be complicated.
It begins with completing a loan application. Once we receive your
loan application, one of our experienced loan processors will begin
verifying the information on your application.
After this information is processed, we will submit it for formal
loan approval. Sometimes
information is mistakenly omitted or inaccurately disclosed on the actual
loan application. Although the
borrower might have been told that he has been pre-qualified, he can find
out later that he was rejected. It
is critical that you select an experienced mortgage professional to make
sure that doesn't happen to you. At Landmark Mortgage we are willing to take the necessary time to ensure that your
information is packaged properly to avoid the unnecessary rejection that
many times occurs with other lenders. Another way to prevent problems during the loan process is to go
one step beyond being pre-qualified and become pre-approved.
In a pre-approval, we send the credit part of the loan package to
the lender and get you approved for a certain type of loan with a
particular lender before you have found or made an offer on a property.
Pre-approved means that Landmark Mortgage has examined, submitted and received acceptance on your financial
capabilities of qualifying for a mortgage based upon your income to debt
ratio, loan information, and credit profile.
Landmark Mortgage
specializes in assisting individuals with becoming pre-qualified and
pre-approved for home loans. We can advise you on the best
approach on taking the necessary steps to avoid unexpected problems during
the loan application and approval process.
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