Another way to expedite the loan process — and to help ensure approval — is to present an attractive application package. Here are some of the components of a solid loan application package:
— Good credit history and rating
— 35 percent of combined personal and revolving credit available, including credit cards and lines of credit
— No excessive late payments, collection activity, charge-offs, judgments, tax liens, repossessions, or bankruptcies
— Strong financials that are consistent with your credit history
— Verifiable income and profit
— Sufficient assets to use as collateral.