Redfin Real Estate Forums
Jump to Page:   1 · 2  |  Next Page
How long did it take to fund your loan?
Options    Options  
OCLeo
Regular Visitor
Posts: 9
Registered: 09-13-2009


OCLeo

Message 1 of 11

Viewed 507 times


   I was told 24-48 hours after docs were signed. It is now 72+ hours and still has not funded. They also requested 1 document last night.
Kudos!
11-03-2009 02:13 PM
 

  Reply   Reply  
Re: How long did it take to fund your loan?   [ Edited ]
Options    Options  
Happy_Buyer
Contributor
Posts: 34
Registered: 09-07-2009


Happy_Buyer

Message 2 of 11

Viewed 499 times


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
Kudos!
11-03-2009 02:29 PM
 

  Reply   Reply  
Re: How long did it take to fund your loan?
Options    Options  
Nanomug
Super Contributor
Posts: 2211
Registered: 05-30-2009


Nanomug

Message 3 of 11

Viewed 494 times


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.   

Kudos!
11-03-2009 02:33 PM
 

  Reply   Reply  
Re: How long did it take to fund your loan?
Options    Options  
amydevemma
Super Contributor
Posts: 1249
Registered: 04-23-2009


amydevemma

Message 4 of 11

Viewed 432 times


Mine took over a week. After the loan docs were signed the final package went through a quality control audit and got held up there for two days. They questioned one of the bank statement .pdf files from BofA because the font looked different so I had to send them a printout of my online account showing the numbers were the same.
Kudos!
11-03-2009 04:37 PM
 

  Reply   Reply  
Re: How long did it take to fund your loan?
Options    Options  
tshell
Regular Contributor
Posts: 54
Registered: 04-14-2009


tshell

Message 5 of 11

Viewed 419 times


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.   

Kudos!
11-03-2009 04:59 PM
 

  Reply   Reply  
Re: How long did it take to fund your loan?
Options    Options  
TaxCredits
Contributor
Posts: 16
Registered: 09-25-2009


TaxCredits

Message 6 of 11

Viewed 389 times


Ours took 9 working days.
Kudos!
11-03-2009 06:31 PM
 

  Reply   Reply  
Re: How long did it take to fund your loan?
Options    Options  
OCLeo
Regular Visitor
Posts: 9
Registered: 09-13-2009


OCLeo

Message 7 of 11

Viewed 285 times


Thanks everyone for replying, it made my anxiety level go down to normal levels  :smileyvery-happy:. 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.

Kudos!
11-04-2009 08:43 AM
 

  Reply   Reply  
Re: How long did it take to fund your loan?
Options    Options  
OCLeo
Regular Visitor
Posts: 9
Registered: 09-13-2009


OCLeo

Message 8 of 11

Viewed 227 times


I supposedly funded today. I hope to close escrow tomorrow.
Kudos!
11-05-2009 12:18 PM
 

  Reply   Reply  
Re: How long did it take to fund your loan?
Options    Options  
Nanomug
Super Contributor
Posts: 2211
Registered: 05-30-2009


Nanomug

Message 9 of 11

Viewed 199 times


That's good news OC.
Kudos!
11-05-2009 05:26 PM
 

  Reply   Reply  
Re: How long did it take to fund your loan?
Options    Options  
OCLeo
Regular Visitor
Posts: 9
Registered: 09-13-2009


OCLeo

Message 10 of 11

Viewed 159 times


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. 

1
Kudos!
11-07-2009 12:33 AM
 

  Reply   Reply  
Jump to Page:   1 · 2  |  Next Page
Search this Forum
Search Board
Advanced
Legend
No New Messages   No New Messages
New Messages   New Messages
This is a popular thread with no new messages   Hot Thread
Read Only Thread   Read Only Thread
Replied-To Thread   Replied-To Thread

Powered By Lithium