I had heard the horror stories of lenders dragging their heels to get to closing even after they had committed to a loan.  Well, I can speak from experience now.

This is for sellers and buyers in my area... please be aware that it's a lot tougher to finance a home these days.

We recently closed one of these nightmares.   It took the full 60 days to get to the closing and we had begun to wonder if we were going to get there at all.  Now that might not be unusual for some but it was totally unusual in this case.

This buyer was SOLID, excellent credit score, no debt, good income... pre-qualified for his loan even before he began shopping for a home.  I got the pre-qualification letter within 5 days of contract on the house. Had the loan committment from the lender right on time.

BUT even though they had issued a loan committment, they really weren't committed.  Lender kept it in underwriting, asking for everything under the sun in the way of information from the buyer.

Finally got there. 

I've heard stories of those that didn't make it recently. 

Please do your homework.  Ask your lender what pieces of information they are going to need and how long they expect the process to take. 

Our local banks are doing better on time frames but they usually need a higher percentage as down payment. 

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Life in Southeast Oklahoma is GREAT! If you're looking for a home or land in my part of the country, give me a call: Judi Barrett, broker, Integrity Real Estate Services,                580-212-5946        . Or visit one of our websites:

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