Yes, it is still possible to close before the tax credit deadline on most mortgage products.  The first product that will become unavailable in most states will be the USDA program.  USDA files must be approved by the lender AND shipped to a local USDA office for approval prior to closing.  Some states are running as much as 15 business days behind on USDA approval.

We are hoping for a tax credit extension but currenlty we have not had a guaranty of this happening.  Before sending your clients to any bank or broker you need to check their current underwriting turn times.

Here are our current turn times as of October 22nd, 2009:

FHA/VA Files: Approved in 5 business days

USDA Files: Approved and shipped to the local USDA office within 5 business days.  Pleas email or call us to find out how many days your local USDA office taking to approve files

Conventional/Conforming Files: Approved in 6 business days

It is imperative that buyers wishing to get the $8,000 tax credit submit their files ASAP. We currently have phenomenal turn times and great interest rates.

Please apply at www.howtogetanfhaloan.com/loanapplication immediately if you wish to take advantage of the tax savings before it's too late. You may also call our office directly at 877.224.2260 x. 2002 if you would like to put your application in over the phone.

Thank you,

Chris Gray

MMC Mortgage

cgray@mmcmail.com

615.403.0103

 
Posted by Chris Gray on 10/22/2009 02:43 PM   Comments (0)   USDA Loans in the Home Buying Channel   usda mortgage loans, tax credit deadline  
Generate short URL

FHA Rate Reduction Division and VA Rate Reduction Divison
04/02/2009
share
Hello All, Our FHA Rate Reduction Division, www. fhavaratereduction. com and VA Rate Reduction Division, www. vafharatereduction. com are helping record numbers of clients. It is truly a win/win for our team and our clients. We would like to use… more
HR 3221
10/21/2008
share
Fanne Mae and Freddie Mac?? Who knows what's going to happen with these guys. Here's what we do know. We can offer the following INSIDE and OUTSIDE of the City Limits. Don't forget if you have not owned a home for the past 3 years that you are… more
 

Chris Gray

Tompkinsville, KY

More about me…

Bank of England dba Eng Lending

Address: 102 W 4th St, Tompkinsville, KY, 42167

Office Phone: (877) 224-2260 x 2002

Cell Phone: (615) 403-0103

Email Me



Links

Archives

RSS 2.0 Feed for this blog