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Met with mortgage agent/broker today...just a couple questions

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MuddyGrimes
Valued Member

Met with mortgage agent/broker today...just a couple questions

Met with mortage company today to start process ( first meeting ) and things looked pretty well, printed out a GFE after pulling credit file..for 225k @ 5.5% for a USDA Guaranteed Loan

 

My questions:  she mentioned it was a 40 day rate lock or something around those lines...

 

when does that 40 days start?

 

Anyhow I still have to bring some documents in this week ( w2, tax papers, bank statements )

 

when do you sign the GFE?  after getting the preapproval?  or after picking out an actual house that you intend to purchase?

 

ThanksSmiley Happy

 

I

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DallasLoanGuy
Super Contributor

Re: Met with mortgage agent/broker today...just a couple questions

40 days starts when you lock. you can float for as long as you want..... cant lock without property

 AFTER you are under ontract, you will sign ap, disclosures(including gfe)

 

Retired Lender
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