Who can actually close a 203k loan fast in Sacramento County?
There are lots of lenders who profess to be able to close a renovation loan quickly and then there are those who actually do close them quickly. But remember it isn't all on their shoulders, your client or "the" client must take an active role in getting their financial data to the lender promptly. The clock starts ticking once that info reaches the lender.
It is all about the team you put together when it comes to closing loans fast or faster than the competition. What is the average number of days that you close a renovation loan would be a fair question for your loan officer.
In Sacramento County and surrounding areas right now I have to put my vote in the box for Pitt Miller is head and shoulders above anyone in this area in the FHA 203k loan guarantee program. Pitt can do loans all over the place but specializes in Sacramento and Placer Counties.
I've been doing business with Pitt for several years now and found him to be extraordinary in his approach and report he has with his clients.
In Placer and Sacramento Counties you may say "my clients pay all cash" for their homes... that just isn't true. What we see is a home may be sold at $1,000,000 but why not put a loan in place for $625,500 and not tie up all your cash. We find that people with money quite often know the power of "OPM" or "Other People's Money".
The photo is a home getting a new foundation.
downtown 11-17-2020
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