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Updated about 7 years ago,
How quick can I get a commitment from a lender
Hello BP! I’m I new investor in the Minneapolis / St. Paul, Minnesota (Twin Cities) market. I just submitted a purchased agreement to buy my first duplex and the seller responded accepting with the added condition that I provide a commitment from a lender at least 5 days before closing. I am pursing a first time home buyer conventional mortgage. I have excellent credit, a high paying steady W2 job, low debt to income, and I prequalified for >$100k more than the selling price of this property. I expect the property will appraise well relative to my purchase price.
My question is, would it be reasonable to expect that I can get a written commitment from a lender by the end of the month? Thanks BP!!!