Financing in New York>Question Details

Mets-r-best, Home Buyer in Farmingdale, NY

Preapproval for home equity loan?

Asked by Mets-r-best, Farmingdale, NY Wed Aug 28, 2013

I applied for a home equity loan a few weeks ago. I submitted all documents that were required, the appraisal is done and they are waiting on the title search to come back. Have I been preapproved for the loan? I owe 104k, it appraised for 289k and I am only asking for 50k. I know the title search will come back clear. Is there anything that can prevent the loan from going through?

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Answers

2
Based on what you described, I do not see any problem. Contact your loan officer or customer service for the status. Things move slower during holidays. Be patient. You do not have any reason to start ANOTHER loan application.
0 votes Thank Flag Link Sat Aug 31, 2013
Allow me to Introduce you to Joao Jacinto. He has been in the mortgage business for over 20 years and has extensive knowledge of various products that can benefit you based on your specific need. Chase offers effective alternatives that allows you to reduce the upfront out of pocket cost for downpayments and other fees that can may hinder the progression of a purchase. Joao has continuously delivered positive results for clients I've recommend to him.

Feel free to contact Joao anytime with Mortgage questions. His contact information is below:

JOAO JACINTO
Mortgage Banker
180 FORT WASHINGTON AVE 1st FLR
NEW YORK, NY 10032
joao.jacinto@chase.com

If you need assistance in finding a new home, I am of course happy to help.

Best,

ALAJUWON ALEEM | City Solutions
Licensed Real Estate Salesperson
40 Water Street | New York, NY 10004
Cell (646) 915-5979 | Office (212) 232-0200
Fax (212) 232-0210

"Difficult takes a day. Impossible takes a week."
0 votes Thank Flag Link Wed Aug 28, 2013
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