Forgotten Your Password?

Need to Register?

Question Icon

Do I have to wait for the purchase contract to apply for a mortgage loan?

My Lender told me he needs the contract before he can give me the loan application. by kevind22 from Savannah, Georgia. Feb 11th 2010 Reply


Tracy Kelly (Tracy Kelly)
#168 ranked lender in California - 3 contributions

Yes. Just about all lenders are now requiring a purchase contract prior to allowing a loan to be submitted. This is due to the new Good Faith law. I have one lender who will a "To be determined" application. Let me know if I can be of further assistance.I hope this helps.Tracy KellyKelly Mortgage and Realty(949) 916 8511

Feb 11th 2010
1
0
- - (Voted.Best.Rates.and.Service)
#11 ranked lender in New York - 374 contributions

You do not have to wait for the contract to apply. You should be able to apply right away. If you have any questions or concerns, you can give me a call. Mel Smith---845-290-3319

Feb 11th 2010
0
0
kumar bhatt (kgbhatt)
#11 ranked lender in Georgia - 3 contributions

Technically speaking you do need a contract to apply for a mortgage. However you can get pre-qualified for a loan prior to signing a purchase contract.

Feb 12th 2010
0
0
JEFFREY MARTINO YOUNG (FHASUBMISSION.COM)
#226 ranked lender in California - 131 contributions

To get pre-qualified you do NOT need a purchase contract - If you have a particular home in mind we would like to have the purchase contract .If you do not have it your approval would be contingent on having a copy of the purchase contract.Feel free to give me a call and I can give you a better answer based on your particular circumstances.Jeffrey Young # 310-984-0496

Feb 12th 2010
0
0
Subscribe to our news feed.