FHA loan

Could anyone tell me how long I can expect to close after the ATP has been issued and signed by the homeowner???  I need this to close in the next 10 days, but when I talked to them today, they said they were just submitting for the ATP.  Any thoughts?

Thanks!

Views: 218

▶ Reply to This

Replies to This Discussion

Permalink Reply by Andy Ross on February 11, 2014 at 7:56pm

I'm agree with you It depends on lender it may takes 10 days or less than 10 days Approx.

http://www.myhardmoneyschool.com/

Permalink Reply by RoJane Maybee on February 12, 2014 at 4:32am

They emailed  yesterday that they are waiting for the BPO variance before they can order the ATP.  What a process -- we submitted in September !!

Permalink Reply by Wayne Brooks on February 11, 2014 at 8:12am
Agree. If they're just submitting the ATP, you won't be closing in the next 10 days.
Permalink Reply by Drew Ludlow on February 13, 2014 at 11:06am

Just went through this.... Our BPO variance took about 4 extra weeks.  Once the variance came back, the ATP was issued about another 10 days afterwards.  Once you have the ATP signed and resubmitted back to the lender, that will trigger some more tasks (provided you are in Equator).  Once those tasks are complete, you can submit the offer.

If the net proceeds are within FHA/HUD guidelines, you should expect the 'negotiation' within about 5 days.  Then provided that goes smoothly, you've got another 5-10 days til you get the approval.

RSS

Members

© 2024   Created by Short Sale Superstars LLC.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************