5 Ways to Avoid Mortgage Approval Delays

TWL_2015_apr_blog3If you have taken the first step of getting pre-approved for a mortgage before you started house hunting, you may be surprised to learn that you still have to go through the loan approval process. According to Zillow, confusing pre-approval with actual approval is one of the top 5 mistakes homebuyers make. Doing so can cause delays in securing a mortgage in time to close the deal on your dream home. Zillow advises, “Be sure you ask to get ‘underwriting approved’ and obtain a formal loan commitment in writing. Anything short of this means your profile has been evaluated, but your actual loan approval doesn’t officially begin until your loan agent submits your file to an underwriter.”

Read the entire article to learn four other common mistakes that delay mortgage approval.

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