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Loan Process

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How long does it take to complete a loan? 

The answer to this question can vary quite a bit based on a few factors. 

  1. The Borrower Themselves -> Today's mortgages involve a fair bit of paperwork and supporting documents (W-2s, Tax Returns....)  The more quickly and accurately those items are submitted on the front end, the quicker your file will pop out the back-end.  Additionally, some borrower's files are simply more complicated than others which can affect turn-times. 
  2. The Loan Officer -> A knowledgeable and well-trained loan officer can help to foresee issues before they arise and avoid unnecessary delays and additional frustrations.
  3. The Market at Large -> When rates are really low, folks are more inclined to refinance.  More loans equal longer turn times not only with lenders but also appraisers, title companies, and every other service provider in the process. 
  4. The Lender Themselves -> Not all lenders are created equal and some are simply more efficient and effective at moving your loan through the pipe. 

BrightPath prides itself on being very responsive and scalable.  Our loan officers work closely with the borrowers to educate them on the loan process and help navigate around potential road blocks.  We also have a great team of 3rd party providers and a underwriting system that can adapt to the ebbs and flows of the market.  We strive to keep turn times at 30 days and can often close even sooner.  Please note, on purchases, the closing date is usually set per the contract but we have been known to close in as little as 10 days when requested!

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