Northwest Bank Provides Tips for Streamlining the Mortgage Process in Today’s Competitive Housing Market

Northwest Bank, a full-service financial institution offering a complete line of business and personal banking products, provides tips for streamlining the mortgage process to help consumers navigate today’s competitive housing market and reduce the stress of home buying.
 
“In this market, buyers have to be ready to move quickly,” says Tim Holman, vice president and director of mortgage operations, Northwest Bank. “You don’t have time to hesitate when you find the property you want.”

Northwest Bank mortgage lending experts recommend the following tips for a fast and seamless mortgage process:
 

1. Connect with a realtor and lender early. Most homebuyers understand the importance of working with a realtor early in their search. However, it’s equally important to bring a lender early into the process as well. They can help you through any challenges and ensure there are no surprises that could result in losing a deal.

 

1. Know all the mortgage options available to you. Find a lender who takes the time to understand your finances and explain all your options. Buyers don’t want to uncover new mortgage options or find better loan terms in the ninth hour of the mortgage process. Instead, work with a professional lender to ensure you know all your options and have your financing ready for when you find the house you want.

 

1. Get pre-qualified for a mortgage. Getting pre-approved or pre-qualified for a mortgage can give you an edge as a buyer. To begin your pre-qualification, you can use an online calculator to determine your projected monthly payment. You may also want to discuss Northwest Bank’s QuickQual tool with your realtor, as it makes getting pre-qualified and providing documentation to sellers or realtors that much easier.

 

1. Use digital document signing to streamline the closing process. Digital closing options make document signing more efficient and enable home buyers to meet deadlines. Even better, there are only a few remaining documents that buyers must sign in person, giving you more time to ask your lender questions and ensure you're comfortable with everything you're signing.

 

1. Remember, it’s still a people-to-people transaction. While technology may enhance the experience, the homebuying process is ultimately about the people involved. Establishing open lines of communication with your lender and realtor – and working with professionals you trust – can help make the home buying process far less stressful.

 
To learn more about streamlining the mortgage process, connect with Northwest Bank’s home lending experts or visit www.northwest.bank/personal/home-lending.