Preliminary Loan Request Review Form 2025

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  1. Click ‘Get Form’ to open the Preliminary Loan Request Review Form in the editor.
  2. Begin by filling out the Broker section, including your phone number, contact name, email, fax, and license type.
  3. Next, provide Borrower(s) Information. Enter the names of all borrowers and guarantors along with their credit scores.
  4. Indicate the type of entity by selecting from Individual(s), Partnership, or Corporation/LLC. Fill in the percentage of ownership by borrowers.
  5. In the Property section, enter the address details and select the property type from options like MultiFamily or Retail.
  6. Complete additional loan underwriting information by specifying the purpose of the loan and entering real estate value and requested loan amount.
  7. Finally, review any office use comments and ensure all sections are filled before submitting your form for processing.

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Youll be looking for conditional approval within 2-3 days. FULL approval however, will more likely be 30-45 days. The main reason for this is that the bank isnt just reviewing your credit/income/assets, they are also reviewing the collateral backing up the loan, ie the house you want to buy.
How long does home loan approval take? StepTimeframe Pre-approval 1-2 days Application 1 day Unconditional home loan approval 3-5 days Settlement 1-4 weeks
What is preliminary approval? Preliminary approval refers to the initial consent or endorsement given before a final decision or approval is granted. It is typically conditional and may require further action, verification, or documentation before it becomes final.
Pre-underwriting is the early review of a borrowers financial profile before full underwriting. It helps identify eligibility, potential issues, and speeds up the approval process.
In most cases, neither pre-qualification nor pre-approval guarantees approval. Pre-qualification and pre-approval dont affect credit scores, because they both typically involve a soft inquiry. Pre-approval is generally a stronger indication of potential approval for a credit card.
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People also ask

Generally, there are two types of loan reviews: The first is a compliance review, in which the goal is to make sure all regulatory requirements have been met and the associated documentation is complete and in order. The secondand more commontype of review is for safety and soundness.

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