Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
If there is a "rush" on the file how do-able is this (assuming they have what they need). Our MB seems to think he can pull this off. He has already had almost 90 days with our file and will miss our close date which is this coming Monday.
Would you buy into this timeline?
If he has a completed file, 8 days is easy. A couple of days to get through underwriting, a couple of days to turn in conditions, a couple more days to get through underwriting conditions approved, clear to close to the attorney to review everything, and a day to draw docs...
If he doesn't have a completed file, 8 days isn't doing to happen.
Traditional 30 year fixed wth 20% down. The underwriter has had it on her desk since last Thursday PM. I have already pushed our movers out to Monday but now cant even get an update from this guy about any progress made today.
A local community bank is possible in 7 days. They have in house underwriter(s) and he/she knows the local real estate market very well to make a mortgage approval fast. The key is to make sure the loan rep has good relationship with the underwriter. I've got my loan approved within a week two years ago. The only thing that was in the way was the appraisal. The underwriter needs to get home value from the appraiser before he/she could finalize it.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
