Burbank Mortgage Lender – Get Pre-Approved

In Los Angeles, it’s a Seller’s real estate market. Inventory is low. Multiple offers. What’s a Buyer to Do?
Here are some tips that will increase your chances of getting an offer accepted in a competitive real estate market.
• Get A Fully Underwritten Approval. In most cases, buyers are getting pre-approvals or automated underwriting (AU) approvals. These however, are not approved by an underwriter. What we do at C2 Financial is get your entire loan file; including all your upfront disclosures, all your financials in front of an underwriter on a TBD (To Be Determined) property, before you even open escrow or find a property. This is second best to an All Cash offer.

• Keep your contingencies as short as possible. With a Fully Underwritten Approval (a loan commitment) you can reduce the customary 17-day loan contingency making it shorter because you already went through processing and underwriting . The appraisal and other conditions can be completed in a shorter time period, thus closing escrow in a shorter period.

• Have your inspection period done as soon as possible. Have your Home Inspection Company selected and ready to go the same day your offer is accepted.

Having a Fully underwritten Approval will set you apart and bring the reality of home ownership sooner.