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Q
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Do I need to pick the property I want to buy before I fill out the application? |
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A
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No. You can fill out the application first and once your loan is approved you can make changes up to the the time your loan rate is locked-in. |
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Q
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What does it cost to submit a loan application? |
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A
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Nothing. You can submit your application and become pre-approved without incurring any cost. However for a more complete review of your credit report and income documentation the fee is approximately $218 - application fee and credit report fee. This amount will be credited to closing costs. |
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Q
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How long does it take to close a loan from application? |
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A
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We can close a mortgage loan within 30 days. However outside factors can affect the ultimate date. For example: sellers cannot move out that quickly, timely receipt of required documentation, scheduling problems with all parties required at closing etc. |
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