It really comes down to getting the request documents to the loan officer as soon as possible.
Many brokers have automated underwriting available to them which speads up the loan process. Typically a hold up in a loan is because documentation requested from the borrower is not given to the broker in a timely manner or is sent incomplete.
Even though just about every borrower desires a quick closing it is prudent to be suspicous of a lender that wants to close too quickly. It is a common ploy of some Subprime direct retail lenders and Finance company lenders to have a borrower sign closing papers just a few days after the borrower's initial contact. These lenders will purport that this is being done in the name of good service when in fact it is often because their rates and fees are quite excessive. They want to get you signed and closed before you realize this. A legitimate loan process does take some time. If you feel things are moving too fast for your comfort level, take control and make sure you are doing the right thing.
To get your mortgage loan to the closing table quickly you need to make sure you have completed your loan application completely and honestly. By embelishing you employment history or your income figures or your current residence you will simply lengthen the process and possibly even cause denial of your loan. The more up front and honest you are from day one, the better and quicker your mortgage professional will be able to suit you with the right loan for your situation and get you to the closing table. Also, be prepared to explain any derogatory credit or recent credit inquiries. If you experienced a few missed payments due to a divorce, illness, or for any other reason have an explanation ready. The better prepared you are, the more complete your loan application package will be for the underwriter and there will be no blanks left for them to fill in. Following these items will enable you to close very quickly.
Thorough preparation ensures quick closing. Before loan application, or even before your home is found, acquire a copy of your credit report and see if there are adverse items reported. Consult an experienced mortgage professional about your loan options. Cooperate with your loan officer with regards to any additional documents needed to clear loan conditions.
Just like the Boy Scout Oath, "Be Prepared" Always make sure your documentation is readily available even if some items have not been requested yet. Keep bank statements filed and easily accessible along with all tax documentation. Underwriters are human too. Sometimes documents can be misplaced and having the original will definitely speed things up.
Ask your mortgage broker to prepare a list of documents you need to obtain, and go through this list and check off each item as it is gathered. Ensure all pages of bank statements are obtained, nice clean copies of all paystubs, statements etc. Give as much info as you possibly can about your situation. Eventually most things will be found during the process, and it's always easier to get through a problem if we know to expect it up front!
Ask to view the documents by yourself 24 hours from closing. This will allow you to ask your lender any questions you may find BEFORE you go to signing and will speed up the signing process as well.