PrimeLending, a national home loan provider and PlainsCapital Company, has unveiled a streamlined mortgage credit approval process: 1Day AdvantEDGE. Subject to certain limitations, it will allow customers to receive credit mortgage approval within 24 hours, accompanied by a $250 lender credit at closing.
The applicant must be a first-time buyer seeking a conventional mortgage with a 20% down payment and must not be self-employed, among other restrictions. The final approval is also subject to property conditions.
This process aims to simplify and expedite the mortgage application process. Once customers complete the online application and provide the required documentation, their application undergoes an automated data verification process. Customers are sent their approval letter within 24 hours, enabling them to proceed with their home purchase.
“We are proud to provide our customers with a simplified and accelerated approval process that gives them a real advantage in today’s competitive market,” says Tim Elkins, chief production officer for PrimeLending. “1Day AdvantEDGE represents a significant leap forward in the mortgage industry.”
Photo by Alexander Andrews at Unsplash.
