Okay, maybe the analogy is extreme… But, thanks to the cumbersome mortgage regulations, it will be a long time before borrowers exclaim: “Boy was it ever easy to get that mortgage!”
It is always advisable to expect the process to be highly invasive in respect to your personal financial records. And, it is a time-consuming exercise, fraught with an abundance of disclosure and closing documents. But believe it or not, the process has actually improved over the years.
For the time being, the negatives are essentially fixed. But at least the most active, progressive lenders have been able to offset some of the frustrations by simplifying the process and offering more cost saving solutions. For example:
Here’s the Point: Getting a mortgage will never be a “walk in the park”, but at least some lenders are making the process a little more tolerable and efficient.