Here are 3 tips to help your AMP (Accredited Mortgage Professional) get your deal packaged and submitted to a lender more quickly:
- The Application – quite often the first contact you may have with your AMP is through an online application. It can be the most useful document a mortgage expert has at their disposal. Make sure you take the time to answer it honestly, completely and in detail. The more information that they have available to them, the easier it will be for them to know in what direction to go. Many lenders have similar programs, but their policies may be substantially different. The application will provide them with the background information they need to start researching which lender(s) would be a good match for you.
- Communication – it’s important that you clearly communicate what it is that you are looking for. Be upfront and clear about what the desired outcome is. Be honest with your broker and work with them to resolve any issues. An incomplete or inaccurate application won’t get approved the first round and will only result in frustration for everyone.
- Paperwork – provide it on time and make sure that it is complete. If information is missing, the submission process will slow down and that could result in you losing out on a house purchase in the end. Ask up front what paperwork is required and start immediately to track it down. Better yet – be proactive and start a file right now! Even if you don’t have all of the supporting documents that your mortgage expert needs, you will be ahead of the game.