Do I need a real estate agent? having issues with placing offer
My real estate agent has not put in my bid on a home I'm dead set on. I've contacted him 4x this week alone, and he says it's not him, it's the lender who is holding up the financing process by not giving me a commitment letter. But I completed my application 3 weeks ago and I was pre-approved. What's going on here? I'm a new buyer and don't want to cause issues in the lending process, but I also DON'T want to be messed around with. Please help! by harry_hh627 from Andersonville, Georgia. Jul 26th 2019
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
A pre-approval letter is when the lender looks at all your information up-front, and determines it looks very likely you will receive a final approval. A commitment letter in theory is given after the house has been identified, appraisal is done, the application has good through full underwriting, and the loan is either 100% approved, or has some very minor items to finish up that don't effect the approve. For example maybe you haven't finalized your new homes insurance yet. Sounds like some sort of miscommunications between the Real Estate Agent and the lender. Contact your Loan Officer. For loans in MN, Wi, or SD, visit me at iMortgageJoe.com - NMLS274132
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