21 Day Fast Track TBD Loan Program at Gustan Cho Associates
21 Day FAST Track TBD Loan Program at Gustan Cho Associates
The 21 Day Fast Traclt at Gustan Cho Associates: 21 Day Fast Track TBD Loan Prorgam at Gustan Cho Associates has a 21 day fast tract mortgage program when most loan close in 21 days.
- Realtors lover this program where you do not need a subject property and a mortgage processor will process the mortgage file and submit the mortgage loan to the underwriting department to the mortgage underwriting division.
- A mortgage underwriter will be assigned to the mortgage file and will do a full underwrite the only thing that will be mission is the subject property and tile and appraisal for the property.
- Gustan Cho and The Gustan Cho Team at Gustan Cho Associates are available 7 days a week, evenings, weekends, and holidays.
Once the property is is submitted , the title and appraisal will be reviewed and a clear to close will be be approved and a clear to close will be issue.
Similar To Cash Offer
Most borrowers, home sellers and real estate brokers do not realize is that the fast tract TBD Loan Program is conditional mortgage loan approval with the a property being one of the conditions. There is no pre-approval here. It is a full blown conditional loan mortgage approval and the only condition loan approval is the home appraisal.. Unless the house is complete a shack where it is completely inhabitable or the home does not appraise out, the house can be financed . If the house is cannot pass inspection due to needing repairs, the mortgage can be converted to a FH203K lOAN.
A TBD Underwrite is when the mortgage company will take a mortgage application and collect all docs by the borrowers and start the mortgage approval process without an executed signed real estate contract. Not all mortgage lenders offer this program. Credit is pulled and the mortgage file will be submitted to Automated Underwriting System for an automated underwriting system approval. A conditional loan approval is issued with one of the conditions being that of a signed real estate purchase contract. When the borrower selects a home, the purchase contract is submitted and the the processor will order the appraisal. Title work on the property is started and once the appraisal gets turned in, the file is reviewed one final time for outdated conditions. All conditions such as bank statements and paycheck stubs needs to be updated.