The Secret To Fast Approvals

Well okay, maybe “secret” is a bit on the melodramatic side.

But some insight into how to achieve fast approvals for your clients, that is absolutely on the table.

As a broker, you obviously want to be able to offer the absolute best for your clients, that is a given.  And providing them the best, means to provide them with the fastest route to approval possible.

So how do you achieve the fastest route to approval?

By working with your lender and giving them the ENTIRE story from the start.

Seems simple enough right?  But not all brokers think to offer all the information from the beginning. In fact, quite often lenders will get an inquiry with just an address or a couple facts about a deal.  And lenders know that sometimes the broker is just trying to gauge a lender’s interest to see if it’s worth putting in the work of crafting an application.  Fair enough.

But, this in turn leads the lender to provide vague responses.

Not because the lender is being difficult, but because there are a whole range of solutions that can be offered. The lender needs all the information in order to narrow down what the borrower is trying to accomplish. And when it’s more than just a cursory inquiry, minimal information inquiries are definitely not optimal for getting answers or approvals.

Limiting your information at the start is like asking how long it takes to shovel a driveway… before you know how much snow there is.

So, from a lender’s perspective – send EVERYTHING you have from the start. Send it all right up front.  Give us the good, the bad, and the stuff you may not think is relevant.  You are not wasting our time – in fact, you’re clearing the path to a much quicker approval.