Here are 2 mortgage process problems you will want to avoid

Securing mortgage loan financing is the cornerstone of financial prosperity in America. It’s one of the biggest decisions you’ll ever take on your life. Here’s watch to avoid when applying for a high-ticket mortgage…

Make no mistake the way mortgage companies must originate loans is 100% controlled by the federal government. That means the “asks” for continual documentation, the electronic signature process and the binding of a borrower to the loan process is effectively controlled and enforced by the government. As a result, it’s going to require you to have a certain degree of vigilance when getting your financing whether you’re buying a home or whether you’re refinancing a home you already own.

What to avoid…

Originating alone 100% via email. Sounds too good to be true for some folks, right? The reality of it is that procuring a mortgage has many different facets and moving components and conducting the whole entire process completely via email is an unrealistic expectation in today’s compliant heavy world of mortgage finance. Things can get lost in translation, not communicated properly and there’s no human element. It would be prudent to have a conversation with the company about your loan amount, your rate, your terms, your payment including all your numbers via telephone and then the rest of the documenting process that transpires over the course of the loan can all be done in handled via email.

The other thing avoid is only being available for communication before 8am or after 5pm. This is an unrealistic expectation that sometimes-working families struggle with in trying to balance getting a mortgage with their other life responsibilities. The reality of it is is getting a mortgage is not the most pleasant thing in the world to do and you would be creating unnecessary stress on yourself by limiting your availability to those hours. You must be willing to give up some, not all, but some of your time during the normal work day as things come up in the process that are required by lending so they can help you be successful in your endeavor to finance a home.

This may seem trivial, but with big mortgage companies toting the ability to get a mortgage 100% online, this becomes super important especially when it comes to the roof over your head.

Looking to get a mortgage? Get a no cost quote now.

RELATED MORTGAGE ADVICE FROM SCOTT SHELDON

5 practical ways to increase your purchasing power when buying a home

How to avoid a contingent offer to buy a new home without selling your current home first

Buying a new home while still owning your current home can be a challenging process,…

5 practical ways to increase your purchasing power when buying a home

How to qualify to buy a new home by renting out your current one

Are you considering purchasing a new home, but already own a property and are worried…

Why you should wait for your credit to improve before applying for a mortgage

Why you should wait for your credit to improve before applying for a mortgage

In the current consumer landscape, securing approval for a mortgage is a significant challenge. It’s…

Here's a strategy to buy a home and set up a future refinance

Here’s a strategy to buy a home and set up a future refinance

For families looking to purchase a home, good news has arrived interest rates are slowly…

View More from The Mortgage Files:

begin your mortgage journey with sonoma county mortgages

Let us make your mortgage experience easy. Trust our expertise to get you your best mortgage rate. Click below to start turning your home dreams into reality today!