Posted on: 27th Mar, 2007 08:29 pm
Once a loan applicant has signed papers How long to lenders have for funding of a loan? Can lenders in California have you sign papers and then turn around and take their time with the funding process? Is their a time limit on this? Also, can a loan applicant decline the loan after papers are signed, Or can this only be done during the three day period after signing docs?
As far as declining the loan is concerned, it can be done within 3 business days of applying for the loan.
Most lenders try to finish up the loan process within a period of 45 days from the date of receiving the loan application
Most lenders try to finish up the loan process within a period of 45 days from the date of receiving the loan application
Hi Rbdm,
The funds on the loan are provided at closing when all legal papers are signed by the borrower. Usually after a 30 day or 60 day or 90 day period of accepting the loan application, the closing is arranged.
Thanks,
Jerry
The funds on the loan are provided at closing when all legal papers are signed by the borrower. Usually after a 30 day or 60 day or 90 day period of accepting the loan application, the closing is arranged.
Thanks,
Jerry