Five ways to make the loan process proceed faster

Polaris Mortgage Group understands the importance of getting your loan closed and funded in a timely manner. By utilizing the latest in loan origination software and taking advantage of the nations' best automated underwriting technology we are able to receive loan decisions faster, resulting in your loan funding sooner rather that later.  The following are five additional ways you can assist in getting your loan closed quickly:

1. Have everything ready and in one place.    On our website you will find a Loan Application Checklist link that will go through the documentation that may be needed to process your loan.  Simply print out this checklist and start gathering the documentation that pertains to your situation.  By being organized you will not only decrease the time spent processing your loan but greatly reduce your own anxiety as well.

2. Be honest and complete when you fill out your application.
Polaris Mortgage Group believes that any long term relationship must be built on trust.  When working with your mortgage professional it is of utmost importance that you represent yourself accurately and truthfully.  Our trained professionals will work hard to find the best loan to fit your unique needs, whatever they may be.  With a diverse product base that includes 100% Purchase Loans we have the ability to match you with the best loan, so please be honest and complete on your mortgage application.  


3. Respond promptly to requests for additional information.  Despite our best efforts to request all documents needed for your loan processing, there are times when we may need an additional bank statement or paystub.  Your cooperation is essential for keeping your loan on schedule and is greatly appreciated by our staff.

4. Be prepared to explain derogatory items in your credit report.  If you had an illness or divorce or other unfortunate life experience and were forced to make late payments, please be prepared to explain delinquencies on your credit report.  Be honest and do not be nervous. Underwriters are people like you who have had obstacles to overcome and the better the explanation the more likely we can obtain an exception based on the facts.


5. Set an appointment with the appraiser. The appraisal can be one of the lengthiest parts of the mortgage loan process. Studies have shown that the single biggest factor in delaying the loan process  is  "lag time," or the appraiser's inability to schedule an appointment. If you're refinancing and the appraiser calls to make an appointment, make it as soon as convenient for both of you.