Is this lender full of crap?

[Luke Carl]

can I say crap? 

Entering a new market. Found a commercial lender at a small bank that says she'll do 20 year amortization/15 year fixed/15% down. 

BUT She's moving stupid slow. Won't get me a pre-qual. Seems to be hung up on the fact that I live in a different state even though I'm only 2 hours away. Keeps saying "be patient" "need to get approval because you don't live here" things like this. Maybe one email per day if I'm lucky. 

Keep in mind I'm already under contract and 3 weeks from closing. 

Based on the ridiculously good terms of this loan and the flakiness I'm starting to think if I wait around for her I'll never get anything closed because she's just blowing smoke. 

Thoughts? 

[Charlie MacPherson]

@Luke Carl  One side note - you should be paying close attention to your timelines.  You said that you're 3 weeks from closing and the lender hasn't issued a pre-approval yet.

I'd call the lender and ask how long you should expect the closing to take from today.  On the residential side of lending, I commonly see 30 days if everything goes perfectly.  Often there are minor glitches that push it out to 45-60 days.

If that happens, you will be out of contract, i.e., in default if you don't have a written agreement to extend the closing date.  Depending on how your contract is written, your deposits could be at risk.  The language of the contract will stipulate how default is handled.

My advice would be to get an extension signed and allow extra time for a buffer.  If the lender says 30 days, extend for 35.

If the lender is slow to respond, you might look for a backup lender.

Good luck!