Refinancing Frenzy - Get your purchases in early!

With all of the media and hype about now is the time to refinance since rates are at their historical low, I want to point out one of the dangers to this influx of additional volume - mortgage loan officers and their processors don't have time for your PURCHASE transactions. I had a recent closing that was in jeopardy of NOT closing on time because the processing center was so busy that they didn't have time to look at my purchaser's loan until two days prior to closing. On top of that, loan documents were emailed to the closing attorney hours prior to closing. From this experience, I would suggest that buyers who need loan financing get with loan officers early in the process and provide all of their documentation upfront. As the Real Estate Agent, call the loan officer and/or processor early and often too so that they know who you are and will want to work on your customer's loan. Good luck to everyone and hopefully the refinances will slow down and allow more timely work for our buyers!