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< Back to intro |
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Financing
| Find a Home | Make
Your Wish List | Steps to a
Successful Purchase | Create
the Offer to Purchase | Negotiate
with the Seller An underwriter's approval of your loan package requires 1) an accepted offer, 2) an appraisal of the property, and 3) a completed loan application and credit report and whatever other information the lender requires--such as tax returns, pay stubs, bank statements, gift letters. (An "easy-doc" or "quick-qual" loan does not require the last four items, but does require a large down payment and usually has a slightly higher interest rate). Removing the loan contingency usually takes two to three weeks from acceptance of your Purchase Offer. Next Contingency... Home Inspection
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