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Discussions tagged with 'FHA vs Portfolio Lender-Who Has Best Terms and Rates'
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Subject: Borrower Approved on an FHA Loan Moving Forward With Local Portfolio Lender for Faster Closing
Hello,
I wanted to provide an update regarding my mortgage loan situation.
Earlier this week, I spoke with a neighbor who is an experienced mortgage lender in Northern Nevada. Although I had been hesitant to discuss my personal financing needs with him, I am glad that I did.
He has reviewed my situation and is working to obtain loan approval through his company. His lender plans to retain the loan in its own portfolio rather than selling it on the secondary mortgage market. Because he is personally involved in the file and helping expedite the process, the expected closing timeline is within the next couple of weeks.
I sincerely appreciate the time, effort, and assistance your team provided in helping me secure mortgage financing. However, because I need to close as quickly as possible, I have decided to move forward with the local lender.
Thank you again for your understanding.
Sincerely,
RachelView Last Reply:
replied 4 hours, 42 minutes ago
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