Are you wondering how to get approved for a mortgage? To be honest, there isn’t just one specific way. Mortgage approvals, like many other financial approvals, come with different options, terms, ratios, etc. from each company that offers them. This is what we call the ‘lending criteria’ of the lender in question. Each lender may require different documentation, lower debt ratios and may treat different types of income in numerous ways. Many people wonder how to get approved for a mortgage because they are misled as to the difficulty of doing so by the things they are told or the stories they hear. The process really isn’t all that complicated, especially the way CMS lays it out for you. If you want to know how to get approved for a mortgage, the answer is simple… spare 5 minutes to speak with us and we’ll be able to assess your current situation, determine the type of lending you need and the steps needed to get started. Sometimes, it’s the simple creativity of the broker you are dealing with that determines the approval of your application. Out of the box thinking is highly important within our industry.
You may want to know how to get approved for a mortgage through taking your own measures. Sure, you’re not an expert on the industry and might not fully understand the underwriting process, but nonetheless there are steps and precautions you can take to make sure you are prepared for the process. Some of these steps include; maintaining good credit, paying debt down, saving money for closing costs, maintaining steady employment income, proof of self-employed income through bank statements (or other acceptable documents) and making sure you are up to date with any mortgage arrears (if you are already a homeowner). It might sound far simpler than it really is, but that’s why we’re here to guide you alone the way. Our process is actually quite easy. See the ‘Our Process’ tab on our website for a complete 8 step breakdown of the process. Also, remember that the timeline is which this process occurs is to your discretion as we will work as fast as we need to, to secure your mortgage ahead of schedule.
Hopefully this clears any confusion of how to get approved for a mortgage. As a unique client with a situation that differs from every other client, it is important to treat your application as a unique application and position it in a way that will get promising results. We don’t believe in a generic approach, and you’ll soon learn why.