How to Get Quick Mortgage Approval

Buying a home is exciting, but waiting forever for mortgage approval? Not so much. You want to move fast, right? We get it. You'll be glad to know, there are smart ways to speed up the process and get that green light quicker than you think.

Why Faster Mortgage Approval Methods Matter

Waiting weeks or even months for mortgage approval can be a real headache. It slows down your home buying journey and can even cost you the deal if someone else swoops in with a quicker offer. Faster mortgage approval methods mean less stress, more control, and a better chance to lock in your dream home.

Here’s the deal: lenders want to see that you’re a low-risk borrower. The faster you can prove that, the faster they’ll say yes. So, what can you do to speed things up? Let’s break it down.

Faster mortgage approval means quicker home buying

Top Faster Mortgage Approval Methods You Can Use Today

Ready to get moving? Here are some of the best faster mortgage approval methods that actually work:

1. Get Pre-Approved Before You Shop

This is a game-changer. Getting pre-approved means a lender has already checked your financials and given you a conditional thumbs-up. It shows sellers you’re serious and ready to buy. Plus, it speeds up the final approval process.

2. Organize Your Documents Early

Nothing slows down mortgage approval like scrambling for paperwork. Get your documents ready before you apply. Here’s what you’ll typically need:

• Recent pay stubs

• Tax returns (last 2 years)

• Bank statements

• Proof of assets

• Identification (driver’s license, passport)

• Credit report (you can get this yourself to check for errors)

  
  

Having these ready means you can submit your application in one go, no back-and-forth.

3. Improve Your Credit Score

A higher credit score means lenders see you as less risky. That can speed up approval and even get you better rates. If your score is a bit low, try to:

• Pay down credit card balances

• Avoid opening new credit accounts

• Fix any errors on your credit report

  
  

Even a small bump in your score can make a big difference.

4. Choose the Right Lender

Not all lenders are created equal. Some are faster and more efficient. Look for lenders known for quick turnarounds and great communication. Online lenders often have streamlined processes that can save you time.

5. Be Honest and Clear

Don’t hide anything on your application. Full transparency helps lenders process your file faster. If you have unusual income sources or debts, explain them upfront.

Organizing mortgage documents speeds up approval

What Salary Do You Need for a $400,000 Mortgage?

Let’s get real about numbers. If you’re eyeing a $400,000 mortgage, what kind of salary do you need? It depends on several factors like interest rates, loan term, and your other debts, but here’s a rough idea.

Assuming a 30-year fixed mortgage with a 6% interest rate, your monthly payment (principal and interest) would be about $2,398. Lenders usually want your total monthly debts (including mortgage) to be no more than 43% of your gross monthly income.

So, here’s the math:

• Monthly mortgage payment: $2,398

• Max debt-to-income ratio: 43%

• Required gross monthly income: $2,398 ÷ 0.43 ≈ $5,577

• Required annual salary: $5,577 × 12 ≈ $66,924

  
  

Keep in mind, this is a ballpark figure. If you have other debts like car loans or student loans, you’ll need a higher salary to qualify. Also, a bigger down payment or a lower interest rate can reduce your monthly payment and salary requirement.

If you want to get a more precise estimate, many lenders offer online calculators that factor in your unique situation.

How to Speed Up Your Mortgage Approval in Practice

Knowing what to do is one thing. Doing it fast is another. Here’s a quick checklist to keep you on track:

1. Start early - Don’t wait until you find a house to get pre-approved.

2. Keep your finances stable - Avoid big purchases or new credit lines during the process.

3. Respond quickly - When your lender asks for documents or info, get back to them ASAP.

4. Use digital tools - Many lenders have apps or portals to upload documents instantly.

5. Stay in touch - Regularly check in with your loan officer to avoid surprises.

   
   

By following these steps, you’ll shave days or even weeks off your approval time.

Why 14 Days to Close Is Your Best Bet for Quick Mortgage Approval

If you want to skip the usual mortgage approval drama, 14 Days To Close is where you want to be. They specialize in lightning-fast approvals and closing times. Our team knows how to cut through the red tape and get you from application to keys in hand faster than most.

We focus on making the process hassle-free, so you can focus on packing boxes instead of paperwork. Plus, their nationwide reach means you get expert help no matter where you’re buying.

If you want to get started on your home buying journey with confidence, check out our quick mortgage approval process. It’s designed to get you pre-approved and closing in record time.

Your Next Steps to Faster Mortgage Approval

Ready to take action? Here’s what you can do right now:

• Gather your financial documents

• Check your credit score and fix any issues

• Research lenders with fast approval times

• Get pre-approved before house hunting

• Stay organized and responsive throughout the process

  
  

Remember, the faster you move, the better your chances of snagging that dream home. Don’t let slow mortgage approval hold you back.

Getting your mortgage approved quickly isn’t just a dream. With the right approach and a little preparation, you can make it happen. Use these faster mortgage approval methods to your advantage and get ready to celebrate your new home sooner than you think!