The whole process of taking a loan can be quite dawdling and ill at ease. In such a situation everybody wishes to speed up the process a little bit and do whatever they can to get their work done in time or even before it. If you have found your dream house but your mortgage loan still waits, you can take some easy steps to speed up the approval .
To start with, you should always be available to answer any queries by the mortgage company. Always return their calls whenever they try to reach you and provide them with the required data and documentation.
Have all the documents in place
All the documents should be arranged in proper sequence in a file or folder to make it easier for a lender to go through them. This also helps in verification. This must include your tax returns, employment records, income statements, bank records, all investment records, evidences of current mortgage and rental payments. You should not give the originals right at away and should keep the proceeds of all the transactions. Having all the documents comes handy and saves time on paperwork by the mortgage company.
Fill in the form correctly
Check and double check your form to make sure you have not missed on any important information. This will make the loan application to go smoothly. You can also take the help of the service providers to speed up the loan application, who have a good track record and experience of some successful cases of loan applications.
Provide extra information
Details regarding your address and phone number should be provided clearly so that the lender can get in touch with you immediately whenever required . You can also give details of property , bank statements and account numbers to be on a safer side. Providing more information makes it easier for the lender to decide quickly .
When the mortgage company tries to contact you or sends any documents to fill , you should reply them as quickly as possible. Faxing is the best way out. It is speedy and easy too.
Go for an unsecured loan
If you have a good credit history, an unsecured loan is quicker to apply for. Only a credit check is needed. This accounts for a quicker process and getting the money within hours.
These are some of the main tips that can help you speed up your loan application. Other than these, you can also apply for a loan application online that is sent straight to the company and hence there are no delays, thus speeding up the process further.