Hello,
I have a few questions that I want to clear up as I am going through my mortgage loan application.
I am working with 2 loan officers , one through Chase and one through reliant home funds.
In terms of the reliant home funds, I am at the step of the initial disclosure - I have not officially locked in rates but spoke with my LO to lock in a 30 year at 5.75 conventional fixed with no points. At this point, I have only gotten an estimated fee sheet , not an “official loan estimate” like the ones people have been positing. I have not signed any paper work such as intent to proceed or anything like that.
With Chase, the I only gotten thru the pre approval and submitted my documents. It went thru the automated underwriting process already. In the pre approval they quoted me 5.625 30 year 7:6 ARM with 0.9 points.
For both places I have not submitted my signed contract as it is still pending , ETA tomorrow per my lawyer.
I wanted to ask -
can I use the fee sheet from Reliant to negotiate with Chase?
when is my loan application official submitted? is it as soon as i submit my signed offer contract or is it when i uploaded my w2, bank statements , etc
Thanks !!!!