Hi
It usually takes about 30-45 days to close on a new loan. So, they haven't actually taken too much of time. After you apply for a loan much of the time is taken up to underwrite the loan. The underwriter, during this process, checks your credit report, income returns and verifies various other information provided by you in the loan application. This is why it takes some time for the lenders to complete the loan approval process. By the way, why did the lender reject your loan application? Why do they think you do not qualify for the loan?
If you know the reason for you disqualification, you can work on it in order to qualify for a loan in near future. For instance, if you didn't qualify due to a negative item on your credit, you can take initiatives to remove that from the credit report so you can get approved for a loan, when you apply for one in future.
It usually takes about 30-45 days to close on a new loan. So, they haven't actually taken too much of time. After you apply for a loan much of the time is taken up to underwrite the loan. The underwriter, during this process, checks your credit report, income returns and verifies various other information provided by you in the loan application. This is why it takes some time for the lenders to complete the loan approval process. By the way, why did the lender reject your loan application? Why do they think you do not qualify for the loan?
If you know the reason for you disqualification, you can work on it in order to qualify for a loan in near future. For instance, if you didn't qualify due to a negative item on your credit, you can take initiatives to remove that from the credit report so you can get approved for a loan, when you apply for one in future.
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savior, if it takes 30-45 days and our poster got declined after 60 days, then your estimate doesn't justify your comment that they acted within the timeframe suggested.
eagle nationwide seems to be getting a bad reputation all over the place. i wonder if mr X has anything to do with them?
eagle nationwide seems to be getting a bad reputation all over the place. i wonder if mr X has anything to do with them?
