Five ways to make the loan process go faster We should say that "working with us" is the first way! When you let us help you find the loan that is right for you, you are taking advantage of some of the area's best technology and expertise to get you a loan decision and funding on your loan quickly. But here are five "other" ways you can speed up the process of getting a mortgage loan: 1. Have everything ready and in one place. On our website, you'll find a "Check list" of things you might need in support of your mortgage application. If you get them all together and keep them in a safe, portable place like a special pouch or folder, you can cut down on time spent rooting around for things we may need. Also, you will help cut down on your own anxiety and confusion. 2. Be honest and complete when you fill out your application. "Fudging" your employment or residence history or omitting open credit accounts you would rather not have considered does not increase your chances of getting a favorable loan. In 100 percent of cases, it makes it harder, and takes longer. 3. Respond promptly to requests for additional information. During processing, we or the lender considering your loan may need additional information. Provide it as soon as you get the request, or return the call as soon as you get the message. 4. Be prepared to explain derogatory items in your credit report. This is really part of number 2 above. If you had an illness or a divorce where you missed or made late payments, or you have other instances of late payments or delinquencies on your credit report, be prepared to explain them. Be honest, and do not be nervous! The loan we are not judging you, we are just trying to fill in all the blanks in our paperwork so that your application can be processed. 5. Let the appraiser in! The appraisal is one of the lengthiest parts of the mortgage loan process. Studies have shown that the single biggest factor in appraisal "lag time" is the appraiser's inability to reach the homeowner to make an appointment. If you are refinancing and the appraiser calls to make an appointment, make it as soon as convenient for both of you. And remember that the appraiser does not want to buy your house. He or she will say what the house is worth clean and tidy and in reasonable repair, even if you have some dirty laundry on the laundry room floor or dirty dishes in the sink. Cleaning does not get you a higher appraisal! Letting the appraiser in as soon as possible gets you a loan faster, though.

MEMBER FDIC

Rates vary daily and are subject to change without notice.

All loans are subject to credit approval, verification, and collateral evaluation. Initial decision is subject to you meeting specific underwriting requirements and final approval will be based upon you satisfying those requirements. Loans originated by Troy Bank and Trust Company.  

This information is provided for illustrative purposes only and does not constitute an application. This notice does not guarantee loan approval, nor is it an offer or commitment to make a loan to you on the above terms. The APR, fees, and closing costs are all estimates based on Troy Bank and Trust Companys normal and customary fees and typical tax and insurance costs in the stated property's vicinity.