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#2253378 - 05/03/21 07:51 PM Business Pre-approval for Investment Property
TeamComply Offline
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Joined: Aug 2016
Posts: 393
In a situation where we have a business customer who is looking to purchase 1-4 family investment property(ies) and the bank has approved the business to borrower up to X dollars, but no exact property has been identified by the borrower yet, how long does the bank have to keep this "approval" open? We do not have a formal pre-approval program in place. Thanks.

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Lending Compliance
#2253381 - 05/03/21 08:35 PM Re: Business Pre-approval for Investment Property TeamComply
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 77,285
Galveston, TX
Totally a business decision.
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