| 1. Have everything ready and in one place. On our website (Loan Application Checklist), you will find a list of items and/or documents that may be needed to help support your mortgage application. If you gather these items and keep them in an accessible folder, it will likely cut down on time spent searching for items we may need. |
2. Be honest and transparent when you complete your application. Giving a false account of your employment or residence history or omitting open credit accounts that you would rather not have considered does not increase your chances of getting a favorable loan. In 100% of cases, it makes it harder and it may even take longer.
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| 3. Respond promptly to requests for additional information. Throughout the loan process, our lending experts may need additional information. It is always helpful if you can provide any additional information as soon as possible. Further, if we leave you a voice mail message, please return our call as soon as you become available. |
4. Be prepared to explain any derogatory items in your credit report. If you have had any missed or late payments these may appear on your credit report. We may need to ask for further explanation.
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| 5. Appraisal basics! Redwood Capital Bank will arrange to have a local appraiser evaluate your home. If the appraiser calls to make an appointment, please make the appointment as soon as conveniently possible. The appraiser's job is to report what the house is worth. The appraiser will need to provide pictures of the inside as well as the outside of the house. |