When Your Loan Doesn’t Close on Time
It’s not all about rate!
When you are shopping for a lender, keep in mind that when the transaction doesn’t close on time, nobody wins.
When your loan doesn’t close on time
- Financing contingency lapse
- Seller unwilling to extend
- Losing earnest money
- Per diem seller charge (IF they agree to extend)
- Losing to a back-up offer
- Lock extension costs
- Altered moving plans
- Temporary housing costs
When the financing piece of your transaction doesn’t close on time, there are many unintended consequences — beyond the fact that the property is now out of contract.
Many national banks and lenders are unable to perform and close loans in a timely fashion. Be sure to work with a Mortgage Lender that you can trust and has a good track record of closing on time.
Be very cautious of using on-line lenders. I prefer:
- Local Lending
- Local Decisions
- Local People
If you are looking to purchase a home, I would be happy to help you out. I can also refer you to a local lender that will sit down with you to review your real estate needs and goals to help find you the best home loan.
Do you have specific questions about any homes in Folsom in El Dorado Hills on the Sacramento real estate market? Contact Alvin Newton and the Newton3 team by email (FolsomProperties@gmail.com ), phone (916-941-5798), or on Facebook with your questions or to set up a viewing appointment. Our team can provide customized services, help you navigate the Folsom MLS and set up a customized email-based home search for you to track a specific Folsom Home, El Dorado Hills Home, and other Sacramento properties at your leisure. Thank you for visiting the FolsomReal Estate blog and we look forward to serving you and your real estate needs.