How long did it take to get a commitment letter...

TracyInQueens Posted: Apr 05, 2005 01:45 PM

How long did it take to get a commitment letter...

after you filed the mortgage application? Thanks.

KimberlyBride Posted: Apr 05, 2005 01:49 PM

Re: How long did it take to get a commitment letter...

I think 3-4 days.

DjPiLL Posted: Apr 05, 2005 02:56 PM

Re: How long did it take to get a commitment letter...

3-4 days? for a committment letter?

Which bank is this?

KimberlyBride Posted: Apr 05, 2005 03:03 PM

Re: How long did it take to get a commitment letter...

Yup - confirmed with FH. Paperwork was submitted on Monday evening and on Thursday we had the commitment letter. Our lender is ANB Amro. They were so awesome to deal with. We used Members Mortgage in Garden City and our rep was Ann Flemming. She was wonderful.

DjPiLL Posted: Apr 05, 2005 03:13 PM

Re: How long did it take to get a commitment letter...

Thats record timing then. I may just have to give them a call when it comes time later this year to look for a house.

KimberlyBride Posted: Apr 05, 2005 03:16 PM

Re: How long did it take to get a commitment letter...

Yes I know. A few people have told me that. Now when we submitted our paperwork we had everything; 1099's, 2 previous years tax returns, copies of bank accounts, pay stubs, mutual funds, bond funds, stock options, 401k info, etc. So it is not like they had to call us to fax anything. Everything was in order. ANB Amro has a website and I can view transactions and pay online. Gotta love technology.

Kim

meghanmetz Posted: Apr 05, 2005 03:39 PM

Re: How long did it take to get a commitment letter...

mine was real quick, I think i had a copy within a few hours (via e-mail) my company has a special relationship with Wells Fargo.

No one believes me, but I got a mortgage without ever handing them a paystub, references, tax returns, etc. which made everything so incredibly easy.

I needed to show them proof of my degree since I didnt have 5 years work experience since I was in school and letter explaining why I didnt work for 3 months after college, but that was after my commitment letter.