Easy Qualifying Loans Quick/easy Qualifying Loans is a term commonly used to describe a real estate loan that is arranged for the benefit of the borrower who may need the money quickly without having to wait several weeks or months in some cases while the loan paperwork is being processed by the lender. Some lenders refer to this loan as a limited documented real estate equity loan.
 These loans are made on the
difference between what the property is worth and what is owed
on the property. With the quick/easy qualifier loan tentative commitments to lend
can be made within a few minutes, with a few questions. The funds are actually lent or disbursed when all the facts given by the prospective borrowers are confirmed and the modified limited appraisal is made, usually within a few days and when the borrowers have signed all the required documents evidencing their ownership and disclosure forms required for all loans. The entire process can take only five to ten days. With this type of loan income tax returns, financial statements and employment verifications are not required. The benefit of this type of loan is the simplicity in obtaining the loan. |
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