Fast Closes and Rentbacks to Compete Against Cash; CD Timing

Rentbacks: All lenders offer lower rates for “owner-occupants” than they do for investors. To qualify for “owner-occupied” rates, buyers must agree to move into the property within 60 days of close. Hence, most lenders allow sellers to rentback properties from buyers for up to 59 days. Competing Against Cash Offers: Writing an offer with a […]Read More

TRID – Closing Disclosures Timeline & “3 Day Review” Period Explained

This blog is one of the most viewed pages on our website, so I thought I’d update it and send it out again b/c there is clearly a lot of interest. People always want to know the exact day we can close when we prepare a Closing Disclosure (CD) and send loan documents to title. […]Read More

Closing TRID Loans Already; The Sky Didn’t Fall (again)

We are already closing TRID loans, even though TRID just went into effect on October 3rd. This shows that much of the TRID fear was overblown, as I mentioned in previous comments. We closed our most recent TRID loan in under 20 days. It takes 4 to 7 days longer to close a TRID loan. […]Read More