1. Best Form of Communication.
Everyone is different and likes to use different forms of communication. From email to texting, phone calls to Facebook messages, we all have a preferred method of contact. It is important to discuss the best way to get ahold of you with your mortgage lender at the Lake of the Ozarks. The process of buying a home has lots of moving parts and you will need to communicate back and forth quite often throughout the entire process. If you respond more quickly to text messages versus voicemail, be sure to let your mortgage lender know that. Often times there are time sensitive issues that arise during the loan process, so it will make the process move a lot smoother if your lender knows how to get questions answered, additional documentation, etc. in a timely manner.
2. Expected Timeline.
Every home loan at the Lake of the Ozarks is different. There are a lot of factors that go into getting a loan and the process can be different for everyone's unique situation. Plus, the mortgage loan process is changing on almost a daily basis. You need to ask your loan officer about expected timelines and also be sure to let them know of any time restraints you may have. Your mortgage lender will want to get your loan secured and completed as soon as possible, keyword being "possible." Avoid unrealistic expectations by talking through everything with your mortgage lender. Also, don't make any unrealistic demands. In order to stay on schedule, be sure to provide information as quickly as possible. Your mortgage lender will give your file top priority and it is essential that you do the same.
3. Disclose Any Unusual Circumstances.
One of the quickest ways to get declined for a mortgage is withholding information about your life circumstances. Be sure to disclose any unusual circumstances with your mortgage lender right way. It is always better to tell your mortgage lender upfront than for them to just "discover" it later. If you are unsure about a circumstance, talk with your mortgage lender to see if it will impact your application in any way. These situations could include:
- A pending divorce
- A short sale, foreclosure or bankruptcy
- Unreliable working hours or income restraints
- Other rental properties
- Anything that seems unique or unusual!
4. Your Goals.
You may have had the goal to buy your own home for awhile and now you've finally reached it. So what's next? You need to set some new short-term and long-term goals as a new homeowner at the Lake of the Ozarks. Discuss these goals with your mortgage lender. Understanding your short and long term plans can help tailor the loan program and interest rates your lender presents to you. A qualified mortgage lender cares about how this loan fits into your financial goals and can help position you to achieve those plans faster. Try to answer these questions:
- Is this the home you plan on living in for a few years or a few decades?
- Do you plan on turning this home into a rental eventually?
- Is your goal to pay off your mortgage quickly?
Discussing these topics upfront will help your mortgage lender provide the best service possible for your unique situation. When it comes to your financing needs, Lakelender Michael Lasson is committed to working with you every step of the way. I'll discuss financing options, offer competitive interest rates and back it up with the first class service you deserve and I guarantee!
For Lake area news, resources and tips on financial services, please
Sr. Residential Mortgage Lender
NMLS #: 493712
2265 Bagnell Dam Blvd, Suite B
PO Box 1449
Lake Ozark, MO 65049
Direct: (573) 746-7211
Cell: (573) 216-7258
Fax:(573) 693-9141
Email: mlasson@fsbfinancial.com
**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.
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