Marian Bennett

Our in-house loan advisor, Susan O’Driscoll of Princeton Capital gave our office this update today. “With a complete file from the borrower – full application with all documentation (2 years income, 2 months assets and one month pay stub) - then we can close in 25 days – 30 days is the usual # of days. Not all lenders can close this fast because they have to send the file out to HUD to be approved. We do not. We have FHA underwriters on our staff and so the whole process is done in house.” We're also advising buyers that 6% is the max allowed credit back, even with a 3.5% down. The borrower can use the 6% to go towards all the closing costs, not just non recurring. We are just a few desks away from each other, so communication is always good and issues are resolved quickly. Susan works with borrowers throughout CA. Contact info is in my website links – or call her 650-712-2483. - Wed Nov 18 2009, 11:33