There are two important reasons why the loan process requires more paperwork than any other stage when purchasing a home:
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1. The government has set new guidelines that demonstrate that the buyer is "capable" of actually taking on a mortgage. (During the period leading up to the housing crisis, many buyers "qualified" for mortgages that they could never actually pay)
2. Previously, there were many problems with mortgage matters. For that reason, banks have been given the task of reviewing (perhaps even triple) everything that is in a mortgage application.
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The good news is that you do not have to go through this process alone, Realtors are here to help you!
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Meibol Torres
(786)3750021
[email protected]
#meiboltorres_realtor
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