* Get a Faster Closing

Because there is no window period while your loan application is processed, the lender can speed up the entire processing procedure. Appraisals can be ordered quickly. Yours will move to the front if you can accomplish the seller's need to quickly close. It's possible to shorten a 30-day closing to two or three weeks, which comes in handy if a seller needs to quickly move and can't decide which provide to accept.

Remember that mortgage approval is generally the longest contingency to satisfy in a purchase contract, it is to your advantage to obtain a preapproval letter as soon as you're ready to begin your long term commitment with no hassles.