Maybe you’ve recently moved to a new area or are planning to purchase a bigger house as you bring a new baby to this world or just placed your current residence under contract. Whatever the reason for the purchase of your new home it’s likely that you’re keen to get your mortgage loan application in motion to allow you to begin your new the new life in your new home. What exactly is it take to get your loan approved?
For most banks, the length between contract and closing typically ranges from 30 to 60 days, with loans that are specifically designed such as FHA loans, which typically take longer than conventional loans. But the steps in the mortgage process don’t need to be that lengthy. In OVM Financial, we are able to complete a loan application to the final approval within 20 day or less. It’s the 20-Day Clear program.
How do you be approved for a loan within 20 days
If you’ve had the experience of going through the loan process before and you’re thinking about what the process is that OVM can approve loans in 20 days. It’s all through our simple procedure. Here’s how you can speed up closings on loans using OVM as your lender partner:
Download our Quickstart app to apply for mortgage loans online complete the necessary paperwork, and receive quick preapproval.
Talk to your loan representative and they will establish the timeline of closing in 20 days with internal milestones so that you can be sure OVM can provide you with an end date that you can trust.
Get updates about your mortgage process by text, email or phone call.
You can reach your personal loan representative whenever you need to ask any questions or need an update. The same OVM team members from application submission to the closing.
All loans are eligible to receive the 20-Day Clear?
A majority of loans are eligible to be cleared in 20 days which includes conventional mortgage loans, as well as FHA as well as VA loans.
The 20-Day Clear does not constitute an assurance since certain loans might have requirements for documentation which can delay the approval process. However should the OVM loan officer finds your loan suitable for closing within 20 days, you can expect that date to be the date of closing.
Are you still unsure regarding the time it takes to be approved for a loan and what documentation or conditions that you will require? Explore our collection of articles on resource sources that cover,
