Fast Close Mortgage: 4 Steps to a Quick Closing

2 December 2021

Are you in the market for a new home but worried about how long it will take to close on your perfect property? It's understandable—the longer you spend with an old place, the more attached you get to it.

You may be in a race to close the mortgage deal and go through the traditional mortgage application and process. However, your rental is about to end, and you have to make a fast closing purchase. So the solution might be the hardest decision of your life: sell or rent?

Many reasons are available to do fast close and take some options to help further up the process. Meantime, we have some lenders from a Florida mortgage company who can help to do their part in closing your loan.

Here are some moves that will assist you in speeding up your closing date.

Steps to close the mortgage fast

Gather the documents that will need to apply for a loan. Make sure you have five copies of each document. The more you can get in order early, the less likely it is that something unexpected will come up.

There are some average delays in closing, such as verification of employment, checking credit, and appraised value. The more information you can get in order, the less likely it is that something unexpected will come up at the last moment and delay the process even longer.

Make sure your finances are in order. Since you can complete all your paperwork quickly and easily via a close mortgage.

Collect the required documents

You are needed to apply for Florida mortgage loans. Make sure you have each required document. The more you can get in order early, the less likely something unforeseen will come up to the last second and delay the process even longer.

Collect information on your closing costs, including origination or discount points fees, surveys, or appraisals. Thus, be prepared to email or upload the document electronically to the Florida mortgage lenders for the speed-up process.

Provide some extra required information by email

Some additional information some lenders may ask, so provide them now and avoid some delays. The external information like:

  • Contact info at the employer for the lender may give a call for some verification of employment
  • Get some contact info of your real estate agent
  • Contact info from your lawyer if you are hiring one
  • Copy the signed gift, if you are receiving gift funds for the down payment


Schedule appraisal or inspection quickly

The good idea is to schedule the inspection and appraisal as soon as possible after being accepted for a mortgage. Get everything in order early so you don't have last-minute headaches at the closing table.

Schedule your loan application to be completed, including any origination or discount points fees, survey, or inspection. Some tasks cannot appraise and inspect the house for a company's performance and return their report.

If you aren't convinced with the company's performance, then ask them to re-inspect your home. Then, explain to your lender that you need to close quickly to use their best efforts to help you do so.

Ask for progress reports of Florida VA loans, and if you do not hear from the lender every two or three days, you can follow up on it. As soon as you have the appraisal, your lender will be able to tell you when you can close.

Be responsive to underwrite condition

You must respond to underwriting conditions quickly if they are not able to promptly close the mortgage deal. For example, If you do not provide information about your loan or documents requested by a lender, it slows down the process of closing the loan fast.

However, the closing delay occurs if the companies do not make a home available on the most convenient day to come in and inspect.

To avoid delays:

  1. Ask your lender when they would like to conduct your inspection or appraisal at closing.
  2. Get everything ready early, so you don't have last-minute headaches at the closing table.
  3. Get a proper schedule before approving the mortgage, and you can always cancel if not receive the approval.
  4. Fix plans put some pressure on the lender to get you approved.

Conclusion

By following these simple steps, you can speed up your closing date without any headaches. To learn more about quick closing mortgages, contact the 1st Florida mortgage company. They properly guide you about closed loans with various terms and conditions.