Nick Nagy Explains What Actually Speeds Up a Pre-Approval

Complete documentation, upfront

A file with every requested document ready from the start moves through underwriting with fewer stops and starts than one that trickles in piece by piece.

Gathering pay stubs, tax returns, and bank statements before the first conversation is one of the simplest ways a buyer can help their own file move.

A document request that goes unanswered for several days is one of the most common reasons a file stalls, and it is also the easiest one for a buyer to control.

In-house processing, support, and underwriting

Loan Factory, Inc. runs its own processing, support, and underwriting teams in-house. A file does not sit in an outside queue waiting on a separate company to act.

Fewer outside handoffs generally means fewer places a file can get stuck waiting on someone else’s schedule.

An in-house structure also means a question about a document can be answered by someone on the same team, rather than routed to a separate vendor.

How to help your own file move

A buyer who answers questions quickly, signs documents promptly, and gathers requested items without delay removes just as many potential stalls as the lender does on their end.

A file is a two-way effort. The lender controls its own process; the buyer controls how quickly requested items come back.

• Respond to document requests the same day when possible
• Keep bank statements and pay stubs current throughout the process
• Ask questions early instead of after a delay has already happened

The mistakes, and none of them is the buyer

• Waiting to gather documents until after the pre-approval process has already started.
• Assuming a fast pre-approval depends only on the lender, ignoring the appraisal and title steps.
• Opening new credit or moving money between accounts mid-process without asking first.
• Working with multiple points of contact instead of one person who knows the full file.