Rate Announces Red Arrow Approval Express; Program Delivers Full Underwrite of Credit, Income and Assets
Rate, one of the largest retail mortgage lenders in the nation, today announced its no-cost Red Arrow Approval Express program which can speed up the mortgage process and help homebuyers obtain their dream home more efficiently. This program delivers a full underwrite of credit, income and assets, providing an edge over competing buyers.
For qualified buyers and conditions, the program allows buyers to:
- Secure credit approval before they’ve settled on a property
- Get full underwriting approval in as little as four hours
- Make an offer backed by an approval
- Compete with cash buyers and enjoy greater negotiating power
“Red Arrow Approval Express gives Rate customers a huge competitive advantage and can make the difference in being able to secure that first-choice dream home,” says Rate Chief Operating Officer Nikolaos Athanasiou. “Especially in seller markets this program minimizes the chance of losing a potential home to another qualified buyer, including all-cash offers.”
Buyers will be prompted to submit several important borrower documents, including W-2 forms, paystubs, tax returns and bank statements. After completing Red Arrow Approval Express, buyers are equipped with a real credit approval from Rate and will be about ready to close upon finding a property and signing a contract.
Consumers can call 773-290-0505 with questions and to be directed to a loan officer to further explain the program.