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Quick mortgage option

tornadog 3,903 420 March 29, 2016 at 02:18 PM
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One of our close family friends is ready to put his house in the market. He is ready to offer it for 5% below market price if we want to buy it. Whats the quick lenders out there. My current mortgage is with penfed and while their rates are great, I know I had to wait 3 months for the whole process to complete.

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#2
Quicken closed a 30 day escrow on time for me.
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#3
Quote from redass View Post :
Quicken closed a 30 day escrow on time for me.
Quicken will tell u they can do all kinds of things but when u actually go to get the loan watch out.

although they flaunt jd power award do a little research u will some negatives out there.

Although Quicken I think is quickest /easiest way to get preapproval letter.
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#4
While the new TRID Disclosure rules has added turn times to the overall process, an experienced mortgage broker can direct your loan to the appropriate wholesale conduit and be able to close your loan in 30 days. There are definitely many lenders to stay away from when requiring a shorter time frame, but 30 days is not an issue at all with a couple of my wholesale conduits who move very fast (where 3-4 weeks is readily viable as long as all parties are in synch).
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-Adam
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#5
Quote from tennis4789 View Post :
Quicken will tell u they can do all kinds of things but when u actually go to get the loan watch out.

although they flaunt jd power award do a little research u will some negatives out there.

Although Quicken I think is quickest /easiest way to get preapproval letter.
I had a fine experience with Quicken, and they closed in 30 days. No research needed, I was there in person when it happened.
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#6
I was supposed to refi a few months ago, but kept putting it off. I just locked today with Sebonic Financial after getting quotes from other online based competitors. They seem very organized so far, so crossing my fingers everything goes smoothly and communication stays strong. Great day to lock as rates are at rock bottom (historically). I decided to get more lender credit so went 3.5% for 30 yr fixed with $3000 lender credit. I'll let you know how it goes in a month. I found penfed not to be as competitive for fixed rates, but for ARMs they have pretty sweet deals at times.
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#7
I keep seeing commercials for Rocket Loans or Rocket Mortgage, something like that. I believe they are an arm/subsidiary of Quicken. They really push the fact that they are quick/easy. Might be worth a shot.
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#8
Rocket Mortgage, is just an easier way for you to deal with Quicken Loans. At the end of the process (or during if you have questions) you will be assigned/directed to a mortgage banker that will help finalize your loan and get you closed.

I have purchased twice and refi'd maybe 6 times with Quicken Loans. Never a problem with numbers or rates changing during the process (besides things like interest or taxes as those are based on that actual close date). Super quick and most of our loans closed within 30 days, unless we needed to push it back.

Sometimes they may not have the lowest rate, but if you know your loan will close with little to no hassle and great customer service, sometimes that is worth paying a little more. I used two different mortgage bankers there and trust those individuals. That should be key no matter who you are dealing with.
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#9
Quote from redass View Post :
I had a fine experience with Quicken, and they closed in 30 days. No research needed, I was there in person when it happened.
I went to get VA loan via Quicken. First guy sales guy is what I consider him was like sure no problem then underwriters were like no. I ended up not refinancing through them. I was there in person. YMMV
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