Pennym.com - Get Organized

It can take weeks to get a mortgage if you visit several lenders and mortgage brokers. You have to find the best deal, file your application and wait to see if they approve the loan. Get qualified before you start to look for a home, and you'll trim your search time.

To streamline the process and improve your chances:

Order a copy of your credit report.
Your lender will also order a copy, but you should see it first. That way, you can clear up any credit problems before you submit your loan application. Order copies of your credit report from one of the three national credit bureaus:
1. Experian (formerly TRW), (800) 392-1122
2. Equifax, (800) 685-1111
3. Trans Union Corporation, (800) 888-4213

Organize your recent tax returns and
financial documents.
The lender will need your financial information to determine how much you can borrow. If you don't have all the paperwork, you can get copies by contacting your tax-preparer and other people who deal with your personal finances.

Get contact information from your human
resources department.
Find out who is authorized to release information about your employment status. Provide the correct contact name and telephone number to the lender to avoid length loan-processing delays.


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