Rachel Bodner
978 505-1466978 505-1466


Now that you have secured your home and gone through the Home Inspection, it is time to submit a formal application for a mortgage on the specific home you are purchasing. Many people will have already started this process with the pre-approval but the pre-approval it is not the formal application.

The “application date” will have been stated in your offer and it is the date that you submit your formal application to the lender of your choice. This Lender may or may not be the lender of which you received your Pre-approval. Many people will shop around once they have an offer accepted while others may have done that prior to receiving a Preapproval letter. It is important to make sure you stay with a reputable Lender with a good track record of closing loans on time as well as good customer service. In general Lenders need approximately 4 weeks to secure a loan although that can vary and many companies can make it happen much quicker if needed!

Lastly, you must make sure your formal application date matches the date stated on your offer or have your Attorney receive an extension from the Sellers Attorney. This is necessary because if for some reason you were not able to obtain your loan by the mortgage commitment date stated in the Purchase and Sale, you could be placing your deposit in jeopardy should the Seller not be willing to grant an extension. If you stay with-in your stated windows this should not be an issue.

I am happy to share my list of Lenders that offer competitive rates and great customer service. These lenders are local and have been tested with many Buyers and have consistently proven to get positive results.

If you would like a list of qualified and competitive Mortgage Agents CLICK HERE to go to my contact page and fill in your contact information and then write  your request in the comment box.