loans: OK Underwriters - Wake Up and Smell the Coffee
- 06/05/09 01:12 AM
I purchased an invetment property on April 11th and I still can't get the loan out of underwriting. I have had to jump through so many hoops, full corp credit credit reports K-1's 2 times, direct calls to credit reporters to get a account initiation date and now the appraiser stated there were no utilities, in checking with the broker I found that they were on, I put them in my name just in case. What is going on, it is amazing the level of detail being required to get a simple 20% down $94k investment property loan out the door. … (6 comments)
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Robert Huntsinger
Empire Realty Upland, CA - Full Service at a Discount
Empire Realty's informative BLOG which gives your market information for the Inland Empire of California. Look to us for all your Real Estate needs, the only place for Full Service at a Discount.
I purchased an invetment property on April 11th and I still can't get the loan out of underwriting. I have had to jump through so many hoops, full corp credit credit reports K-1's 2 times, direct calls to credit reporters to get a account initiation date and now the appraiser stated there were no utilities, in checking with the broker I found that they were on, I put them in my name just in case. ;)
;)
