Anonymous asked in Business & FinanceCredit · 10 years ago

How long does it take to qualify for a pre-approved home loan?

What do banks look for when approving or denying a home loan? What do I need to guarantee that I can be pre-approved for a home loan?

1 Answer

  • 3 years ago

    Chirs, You bought locked right into a five.seventy five% with ratings like that! You would possibly uncover your self in a shock with this however your LO workplace used to be specific sufficient to mention you're within the transparent so bought you to pay 1500! Must now not be a amateur LO, I might suggest going to her manager and get a documented affirmation in this. You will have to of requested them to pay it as aspect of your kit. Pre-approval manner simply pre-approval. Underwriting is a complete one of a kind application, It is an actuall individual that experiment your dangers similar to sales, credit score ranking ect. You mortgage would possibly move to a couple of underwriters with that ranking as a result prolong your remaining date. I see alot of banks use the center ranking of the only with the lessen credit score ranking as there marker for APR charges. I desire this one is going via for you. My buddy Tom had a ranking of 740 his spouse has a 635 with the identical DTI and earning ect. and bought pre-authorized and ended up now not getting authorized via underwriting. Do a few extra study on what number of loans get authorized in underwriting.

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