Using the TBD underwrite to get the commitment from the client

“The next step in our process, Mr. And Mrs. Client, is that now I need to take all of the information you have provided to me and submit it to my underwriting team so that they can fully pre-underwrite your loan before you find a home.  Once we take this step, the underwriter who’s going to eventually make the final decision on your loan will become familiar with your situation and fully approve you as a borrower before you even decide on a specific home.  

Once we have a fully underwritten approval in hand, you have a considerable advantage. 

Once you find the perfect home, I will personally call the listing agent, to communicate your loan is completely underwritten and we’ve already contemplated an appraisal gap strategy if necessary.  

Think about it like you are selling a home, and you receive an offer from a buyer who’s completely pre-underwritten, has removed the financing and appraisal contingency, their lender has called to assure that they can close this thing in less than 21 days, and that all they need is title, insurance, and items specific to the property.  

I want to make sure that you have the very best loan strategy so that it’s very hard for a seller to resist your offer.  If that resonates with you, I’d like to go ahead and have your file completely reviewed and approved by my underwriting team.

In doing so, I have to pay my processing team, my underwriters, and disclosure team, which I don’t mind doing at all because I know the strategic advantage this will give you. And there’s never a cost to you, but I don’t get reimbursed for those costs until your loan closes. So, before we proceed, I just want to make sure that my team and I are the best fit for you and your family. Are you comfortable and committed to move forward with us?”