Home arrow Mortgage Forums arrow Loan Talk for First Time Home Buyers arrow

green light

Author Message
joe joe

Guest







Post Posted: Fri Jul 29, 2011 9:09 pm    Post subject: green light
Like 0
Dislike 0

How long after loan disclosure to i have to wait on green light from bank.
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant
Icon Mini Profile dmitriy





Joined: 29 Jul 2011

Posts: 27

6.27 Dollars($)
Post Posted: Fri Jul 29, 2011 10:42 pm    Post subject:
Like 0
Dislike 0

Joe Joe;

Typically, once you receive a commitment that is as close as you will get for a green light until you sign the closing papers. As a rule of thumb, until the closing documents are signed, the deal can fall apart even with a commitment letter.


Best Regards;

Dmitriy Bleynis
Regional Sales Manager
STERLING NATIONAL BANK
STERLING NATIONAL MORTGAGE


[Contact details deleted as per our forum rules. Thanks.]
Icon Mini Profile gmakerley
gmakerley
Community Mentor
Community Mentor

best lender badge

Joined: 09 Nov 2007

Posts: 12376
Location: bloomfield, ct
58.49 Dollars($)
Post Posted: Mon Aug 01, 2011 9:27 am    Post subject:
Like 0
Dislike 0

True, because a commitment letter is generally issued subject to specific conditions. If the conditions are not met, then the approval is voided.
_________________
George M. Akerley
Mortgage Underwriter/Consultant
Word of Excellence- Writing/Editing/Proofreading
860-221-5044
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights

Bookmark this page

Helpful References

Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators

     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools

Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community

MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards

Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (252)











We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 0.265 seconds.