A traditional loan usually takes 30 to 45 days, says John Councilman, president of AMC Mortgage and president of the National Association of Mortgage Brokers.
“However, there are many other variables that could lengthen that time,” says the councilman. “Evaluators may take longer in some areas, (and) the self-employed take longer. By explaining credit issues to the insurer’s liking, bank savings that aren’t attributable to their job and the like, everyone can increase response time.
Elements thats can long or reduce Refinance Home Mortgage
One element that can reduce or increase time, says the councilman, is the agility and efficiency with which the borrower delivers vouchers, statements and data requests.
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