10-Day Closing Program Details

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Disclaimer: The Network Funding 10-Day Close is for a purchase loan, primary single-family residence, non-condo, in a metropolitan area where an appraisal may be obtained within 72 hours, a borrower(s) who is a W2 employee (not deemed to be self-employed and does not receive commissions that exceed 25% of total income) and provides acceptable W2s for the past two years and pay stubs for the past month, to satisfy program requirements for employment and income. The 10 business days start once all preliminary documentation has been received, and the loan application and required disclosures are signed and returned and the appraisal is paid. Holidays and weekends do not count as a business day. In order to close your loan in 10 business days we must first obtain the following on qualifying conventional and FHA loan products*: (1) a credit score that qualifies you for the loan program, (2) your authorization to obtain, and our ability to order automated verification of your assets and income from an automated verification system, (3) all required documents from you as requested by the Company within 8 business hours as approval condition requests are communicated to you (orally or in writing), (4) receipt of an acceptable appraisal to the Company within 4 business days of your application, (5) the seller must be willing and able to close within 14 days, (6) all required disclosures and closing documents must be timely and properly executed, and (7) you must consent to receive and e-sign all documents electronically. The guarantee does not apply if events occur beyond the control of Network Funding, including but not limited to: appraised value not met, escrow or title delays, 2nd lien holder approval, short sale approval, or lender conditions that cannot be met. If Network Funding otherwise fails to perform a credit of $250 will be applied toward your closing costs when we close on your loan. Network Funding, L.P.’s maximum liability is limited to a $250 closing cost credit. Qualifying products do not include Reverse Mortgages, FHA 203K, VA, Bond, MCC, Down Payment Assistance, loans that require prior approval from an investor, or brokered loans.

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  • Houston, TX 77042
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