Your Palladium Mortgage Advisor will need to order a report on your credit history and a professional appraisal of the property. You may also need to provide the following information, all of which will be explained in great detail:

Important Documents

What To Avoid
Avoid big purchases. Even if you have great credit, making a large credit based purchase before you close can hurt your chances of closing. Increasing your debt to income ratio with another monthly payment may result in a loan rejection. We also recommend you refrain from quitting or changing jobs before closing. Lenders look at employment history when deciding to approve a mortgage. Consistency and duration are both qualities lenders like in an applicant.

Approval
The entire loan process can take 1-6 weeks to complete. Approval can be done in a matter of minutes. It's not unusual, however, for your mortgage advisor to ask for more information once the application has been submitted. This may delay the approval process. We will contact you to let you know the outcome of your application. Once approved, a closing date is set.

Closing
Normally, you'll sit at a table with your mortgage broker (that's us), the broker for the seller, the seller, and a closing agent. The closing agent will have a stack of papers for you and the seller to sign. Before you go to closing, we'll go over closing costs and the documents you'll need at the table. That's it. All you have to do is move in. Congratulations!

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