Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Mortgage Brokers & Lenders
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 7 months ago on . Most recent reply

User Stats

340
Posts
71
Votes
James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
71
Votes |
340
Posts

What Bank Is Fastest when it comes to Cash Out Refinance?

James McGovern
  • Flipper/Rehabber
  • Bloomfield CT
Posted

Would love to know if any bank exists that can do a cash out refinance where underwriting takes less than one week

Most Popular Reply

User Stats

475
Posts
183
Votes
Derek Brickley
  • Lender
  • Ann Arbor, MI
183
Votes |
475
Posts
Derek Brickley
  • Lender
  • Ann Arbor, MI
Replied
Quote from @James McGovern:

 7 days is a legal requirement plus to get a loan from application to processing through underwriting cleared and closing docs 


 May I ask what law specifies 7 days. Would like to educate myself in more detail.


 On a conventional/conforming, there is a requirement with a number of regulations most notable TRID.  Depending on the lender and the product if it is non-comforming you may not need to wait that time and you may not receive a LE or CD, but still most lenders will have it as a standard practice to be safe.

business profile image
Gold Star Mortgage Financial Group
5.0 stars
15 Reviews

Loading replies...