What might delay approval of my loan?
I want to place a bid on a new place, but would don't want to get delayed in escrow due to any unforeseeable loan hang ups. What typically delays the approval of a loan? by taerick34_340_639 from Pratville, Alabama. Aug 19th 2011
Tommy Peoples (TommyPeoples)
#8 ranked lender in Alabama - 19 contributions
The most common delay is caused by incomplete documentation being submitted to underwriting. At Southwest Funding we try to insure that the file is complete before it is submitted.Tommy PeoplesBranch ManagerSouthwest Funding877-634-2390
Rick Gause (rgause)
#460 ranked lender in California - 6 contributions
Common causes are typically incomplete or illegible paperwork. Occasionally if a home needs obvious repairs and it is noted on the appraisal it can delay the process. A little forethought prior to sending in the file or getting the appraisal completed can remedy most problems. Feel free to call if you have more questions. Thanks, Rick G. 800-486-8786 xt 776
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