How long should it take to close a renovation loan?
By Mike Young, FHA 203k Consultant 916-758-1809 cell direct
(203kOnLine.com, covering the USA)
How long should it take to close a renovation loan?That is a great question. I guess it depends on who you talk to. There are allot of lenders out there that profess to do 203k loans and they likely can... BUT that doesn't mean they can close them fast does it? Nope, you all have been caught up in this at one time or another if you let the client run the show. I recommend that you do your homework and find out who can actually close these loans on a consistent basis. I know some who can close in 21-30 days on a regular basis, that is the one you want working on your. But wait, there is more. The time doesn't start until you provide your client's loan package with the tax returns, and financial information they need to actually get started. I was talking with Jeff the other day, a natio...
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