Could anything delay approval of my loan?
If you have complete, accurate information, everything should go
smoothly. You may face a delay if
you have had credit problems, such as a history of late payments, non-payment
of debts, or a tax lien. You may then be required to submit additional
written explanations or clarifications.
You should also be sure to notify us if your personal or financial
status changes between the time you submit an application and the time it
is funded. If you change jobs, get
an increase (or decrease) in salary, incur additional debt or change your
marital status, let us know as soon as possible.
Many delays can be avoided by being pre-approved prior to starting
the purchase process. Pre-approved
means that a mortgage or real estate professional 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. Pre-approval is a step beyond pre-qualifying.
In a pre-approval we send the credit part of your 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.
Landmark Mortgage
specializes in assisting individuals with obtaining home loans.
Our experience can help you avoid unexpected and unnecessary delays in the
loan process. We can advise you on the best
approach and help you get the house of your dreams!
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