It is a very stressful experience for your financing to stall. Mortgage delays can postpone and even cancel closings. These are most likely culprits of the dreaded mortgage delay.

1. The buyer is slow to submit requested documents to the lender.
Some of the responsibility lands on the buyer to acknowledge a sense of urgency to complete the documents. The lender can and will do nothing until they have the docs.

2. The buyer fails to sign e-consent and loan disclosures in the appropriate time frame.
Again, there is a sense of urgency to push along the information and allow the lender to do their job. They can't begin the approval process without your consent.

3. The processing and underwriting are not done in house.
This is where it really makes a difference to use a local lender. Local in house processing and underwriting can be expedited upon request.

4. Failure to quickly order a home inspection and appraisal.
An appraisal isn't ordered until after the inspection is cleared. Sometimes it can take 10-14 days to receive an appraisal report.    

5. Making large purchases on credit after going under contract on a home.
These large purchases can change your debt to income ratio or even your credit score. Always ask your lender before buying any cars, appliances, or other pricey items.

6. Large deposits into the bank account made in cash or without adequate documentation.
Every deposit needs to be sourced and cash is difficult to source. Acquiring copies of deposited checks can be a slow process and cause delays as well.

The more you know, the more you know!