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Redfin Real Estate Forums :
Los Angeles :
How long did it take to fund your loan?
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Re: How long did it take to fund your loan?
[ Edited ]
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Happy_Buyer
Contributor
Posts: 34
Registered: 09-07-2009

Message 2 of 11

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Mine was about 3 days (signed paperwork on a Monday, it funded on a Thursday but could have easily gone to Friday). I was also requested to provide additional documents which seemed minor and pointless but you just have to play ball at that point. Are you in regular contact with your lender - I spoke with mine daily and they advised me what the underwriter was looking for and why. Good luck in these last few anxious days. Nearly there! Message Edited by Happy_Buyer on 11-03-2009 02:29 PM
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11-03-2009 02:29 PM
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Re: How long did it take to fund your loan?
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Nanomug
Super Contributor
Posts: 2211
Registered: 05-30-2009

Message 3 of 11

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It usually happens that way. With our latest we had documents requested the morning of the scheduled closing date. We got them to the escrow company and they managed to record that afternoon even tho they thought it would be the next day. If a document was requested it will have to be reviewed and what the document was and how it is reviewed will determine the length of time. Ours was a money trail since we wired some money from a different account than expected since we sold some land and used that for part of the funds.
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11-03-2009 02:33 PM
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Re: How long did it take to fund your loan?
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tshell
Regular Contributor
Posts: 54
Registered: 04-14-2009

Message 5 of 11

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We literally had our loan funded within 1 business day. We signed the docs on late Friday afternoon. The following Monday, escrow faxed the documents back to the bank in the morning. Bank sent the wire back to escrow within 1 hour!!! We had a great team over at the bank handling our file though...everyone was truly on top of the game for us.
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11-03-2009 04:59 PM
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Re: How long did it take to fund your loan?
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OCLeo
Regular Visitor
Posts: 9
Registered: 09-13-2009

Message 7 of 11

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Thanks everyone for replying, it made my anxiety level go down to normal levels . I just hope we fund today or tomorrow. which will make it 5 business days. I don't want to break the 9 day funding day set by Taxcredits.
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11-04-2009 08:43 AM
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Re: How long did it take to fund your loan?
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OCLeo
Regular Visitor
Posts: 9
Registered: 09-13-2009

Message 10 of 11

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Funded Thursday and was recorded Friday. Took possesion Friday wooo hooo.. It was all worth it after 45 days of UPS and downs (repeat this 9x). Thanks for all the kind words and encouragement.
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11-07-2009 12:33 AM
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