John Wheaton, vice president of lending for Guaranteed Rate in Costa Mesa, Calif., says homebuyers who are hoping to close on a purchase this spring should obtain a fully underwritten loan approval, not just a preapproval, and they should get the 10-day process started now.

In a Google Hangout session hosted by brokerage Redfin, Wheaton said a fully underwritten approval can put homebuyers in a more competitive situation, particularly in multiple-offer scenarios. Source: blog.redfin.com.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top