Certified Credit Approval
What is it?
A Certified Credit Approval (CCA) is the next best thing to a cash offer.
The Certified Credit Approval (CCA) is a full credit underwrite of a TBD loan file.
• Loan file is fully credit underwritten prior to the borrower making an offer on a home, making the offer to purchase more desirable for the seller to accept.
Items reviewed during the CCA approval:
Income, Employment
Assets
Credit
• This is completed on a file in which the subject property address is TBD
• Conditionally Approved • The Underwriter has conditionally approved the file and the Certified Credit Approval Letter can now be generated. Example:
Once a subject property has been identified and the borrower is under contract. Usually the remaining items need to obtain the Clear to Close are as follows: (but not limited too)
Purchase Contract
Earnest Money Deposit
Appraisal
Title
Home Insurance
Clear to Close
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