My lender has been around as long as I have and there are ALWAYS new things to learn. It’s not your parent’s borrowing today. Competition is fierce for Charlottesville homes and lenders need to get your attention. So here’s how easy it is today:
Step 1: You fill out a simple mortgage application. But now they’ll use a one-click option to verify your asset and income information – no extra steps!
Step 2: Now that they have your full application and have verified income and assets, they will submit your file to their corporate underwriter for review as a TBD loan (To Be Determined) – there is no address but they can submit it anyway!
Step 3: The underwriter issues a Conditional Commitment to Lend that you will present with your offer.
Sellers don’t have to be scared of financing options because you are ready to go!