The mortgage approval process is like an assembly line. Fall off the line, and you'll have trouble....anywhere.
I've seen my local Wells Fargo do loans I could not...painful as that was...and have heard other not so happy loan stories.
- If you are working with a Realtor, get their input.
- Check with your friends who have bought recently.
- Do a local search for mortgage lender/broker
- Check out their website, reviews, and videos.
- Meet in person.
There are two distinct types of borrowers - Vanilla and Rocky Road.
Understand which type you are.
Be prepared in advance with all documentation.
Understand the 3 mortgage banking models- Retail, Broker, and Mortgage Correspondent.
Find a correspondent lender who approves loans locally.
Watch what I mean by local: