TBD Loan Program

TBD Loan Program On Government And Conventional Loans

Gustan Cho Associates are mortgage brokers licensed in 48 states

This BLOG On TBD Loan Program On Government And Conventional Loans Was UPDATED And PUBLISHED On February 5th, 2020

TBD Loan Program at Gustan Cho Associates:

The 21 Day Fast Track TBD Loan Program at Gustan Cho Associates: Gustan Cho Associates has a fast track mortgage program where borrowers will get a full loan commitment without a subject property.

  • Realtors love this program
  • Do not need a subject property
  • Mortgage processor will process and submit the mortgage loan to the mortgage underwriting division
  • A mortgage underwriter will be assigned to the mortgage file
  • Will fully underwrite the borrower without the subject property
  • The only thing that will be mission is the subject property and tile and appraisal for the property.
  • Gustan Cho Associates are available 7 days a week, evenings, weekends, and holidays

Once the property is submitted, the title and appraisal will be reviewed and a clear to close will be approved. A clear to close will be issued. In this article, we will discuss and cover TBD Loan Program On Government And Conventional Loans.

Similar To Cash Offer

What is the TBD loan program for government and conventional loans

Most borrowers, home sellers, and real estate brokers do not realize is that the fast track TBD Loan Program is a loan commitment with the property being the only condition for a clear to close:

  • The pre-approval is the full loan commitment
  • It is a full loan mortgage approval
  • The only condition is the executed real estate contract and 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 an FHA 203K Loan.

TBD Underwriting Mortgage Process

A TBD Underwrite is when the mortgage company will take a mortgage application and collect all docs by the borrowers:

  • We start the mortgage approval process without an executed signed real estate contract
  • Not all lenders offer this program
  • Credit is pulled
  • Mortgage file will be submitted to Automated Underwriting System for an automated underwriting system approval
  • 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
  • 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 need to be updated.

Getting Started With TBD Loan Process

How TBD Underwriting Mortgage Process works

Gustan Cho Associates is a national mortgage company with no overlays. TBD Loan Process is offered on government and conventional loans. Borrowers who undergo our TBD Loan Process can be rest assured that they will close their home loan. All of our pre-approvals are loan commitments. Contact us at Gustan Cho Associates at 800-900-8569 or text us for faster response to get started. Or email us at gcho@gustancho.com. We are available 7 days a week, evenings, weekends, and holidays.

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