15 day closing full loan commitment | MMM S01 E7

    15 day closing full loan commitment | MMM S01 E7

    Home Buying

    December 17 2018

    We have exciting news in Sean La Rue Home Loans, as we now can offer you the possibility of closing your loan in around 15 days. In order to so, you need to do every step perfectly so that you can close your loan as quickly as possible.

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    What we’ll need to take care of first is the mortgage application, which we recommend to do either online or in person. If you choose to do it online, make sure to check that your application has been received and is being processed. If you decide to do it with Sean La Rue Home Loans, let us know from the beginning that you want to get it done in 15 days and we’ll do our best to get it done. As we mentioned previously, everything needs to be done perfectly, so read carefully the mortgage application because if you don’t fill the entire document, the process will be delayed.

    Your bank will require certain documentation to approve the loan and it’s highly important to present all these documents at the time of the application.

    Why does my bank want this information? Just to verify that you are in an adequate financial situation to afford taking on a loan, and that you have enough cash already to pay the down payment. It will also help the process avoiding situations such as that the bank chases you for more information, which again would slow down the process.

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    We advise to keep everyone who’s involved in the process in the loop, as if you put all the pieces together and give sufficient notice to everyone, you’ll be able to close quicker.

    A few more things to keep in mind: make sure you have no blemishes on your credit history. If you see items that show a balance even though they’ve been closed or if you find questionable entries, such as judgments or liens, contact the credit agency immediately and prepare an explanation for the bank. Make sure all negotiations with the seller have been completed as little details can hold up a closing. Sign all disclosures and the commitment letter upon receipt. Make sure you read the commitment thoroughly and understand everything that is required to close the loan. Finally, set your appointment as soon as possible after you’ve been approved so that a scheduling conflict doesn’t ruin everything you’ve worked for.

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    So that’s all for today, hope you found this article useful so far and don’t hesitate in reaching me out if you have any questions or need a consultation.

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