Monday, August 1, 2011

What is involved in the loan process?


Everyone who is buying a house wants to know "When can I close and why does it take so long to get a mortgage?"  There is no right answer to this question when you are in the process of getting a loan, but the loan officer you are working with can try and give you a realistic time frame of the amount of time it should take to get your loan completed.  The reason that there is no set timeframe is because the combination of the type of loan, borrower circumstances and home are different for every situation.  This blog will help explain what the typical loan process entails.  If you are involved with additional circumstances outside of the explanation given, more time may be necessary.  Additional circumstances can include: loan with state assistance, loans with improvements being rolled into the house, condos, USDA, VA or FHA loans.  If a borrower is getting gift funds, pulling money out of a 401K or obtaining a bridge loan will require further information.


I hope this helps!

4 comments:

  1. Hello Everybody, My name is.Mrs.Juliet Quin. I live in Canada and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $ 73,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $ 73,000.00 Canada Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs.Juliet Quin that refer you to him. Contact Dr Purva Pius via email: reply to email (urgentloan22@gmail.com)

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  2. Today I am a happy man, although being into politics is very stressful but we never give up until the battle is over. I just want to quickly use this medium to say a big thanks to Anthony Weslie Loan Company for making my race a success. I never thought I could get such a huge amount of loan, but this company gave me the loan without any stress. My success came as a result of the loan I took from this company. The CEO Mr. Anthony Weslie, I use this medium to say I owe you a lot. Thanks and God bless you sir. In case you are out there, you are financially stocked up, and you need a loan to relief you of your financial stress I strongly recommend you to Anthony Weslie Loan Company. You can contact them directly through their website www.anthonyweslieloancompany.simplesite.com or email them at anthonyweslieloancompany1@gmail.com God bless you all.

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  3. My name is Mrs.Aisha Mohamed, I am a Citizen Of Qatar.Have you been looking for a loan?Do you need an urgent personal loan or business loan?contact Dr James Eric Finance Home he help me with a loan of $42,000 some days ago after been scammed of $2,800 from a woman claiming to been a loan lender but i thank God today that i got my loan worth $42,000.Feel free to contact the company for a genuine financial service. Email:(jameseric42@aol.com) Contact Number +918929509036

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  4. I never thought that I will be qualify for a loan that Officer Pedro and his loan company granted me which was very smooth and transparent in every conversation that we make through the loan process, I will once again thank him and his loan organization for a job well done by offering me a loan of 22 million Euro with the low rate of 2% annual return they are genuine and loan register company with simple terms and conditions.Contact the loan company through  pedroloanss@gmail.com

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