Posted on: 29th Jul, 2011 09:09 pm
How long after loan disclosure to i have to wait on green light from bank.
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.]
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.]
True, because a commitment letter is generally issued subject to specific conditions. If the conditions are not met, then the approval is voided.
