The Perfect Loan File

Click Here To Read The FULL Forbes Article

In March of this year, 2012, Forbes magazine posted an article titled ‘The Perfect Loan File.’ In the article, the author does an excellent job conveying how the mortgage loan process has changed since the mortgage crisis.

As a potential home-buyer, -seller, or even if you are just trying to refinance, this is an excellent article to read. The author states that in order to get your mortgage loan process in a timely manner with the least amount of headache is to provide the lender with the ‘perfect loan file.’ What is the perfect loan file?

The article states it’s one that: a.) Pays back the lender and b.) Pays back the lender on time. You must have a borrowed profile that meets the credit underwriting guidelines for the loan you are requesting and, more importantly, you have to be able to hard copy guideline document your profile.

In today’s lending conditions, chances are you’ll find yourself frustrated over what you may consider unnecessary requests from a lender. In this case the author states it best by saying, ‘When your lender requests what seems to be over-documentation and you wonder why you need it, accept the simple edict: Because I said so.’ You’ll find the mortgage approval process much less frustrating.

It really is a great read for anybody in the housing industry or considering buying a house and if you would like to read the article, you can click on the link down below and for more information on today’s lending conditions contact Darren James.

That’s right. He’ll help you out or point you to somebody else who can. Do us a favor, subscribe for free to this blog to get more information, forward and share, and leave us some comments down below. We’ll see you again here real soon on Real Estate Video Box.