Timing is everything when it comes to buying a house. Whether you’re relocating, buying your first home, or “right-sizing” for this stage of life, the sooner you can back up your offer with a mortgage approval letter, the better off you could be at the negotiating table. What if you could receive mortgage credit approval1 in as few as 24 hours? With our new 1Day AdvantEDGE2 program, you could be well on your way to closing day.
What is 1Day AdvantEDGE?
1Day AdvantEDGE is a streamlined mortgage credit approval process that can help provide qualified borrowers a significant advantage in today’s competitive housing market. With 1Day AdvantEDGE, borrowers can receive mortgage credit approval within 24 hours of completing the online application. Plus, they will get a $250 lender credit3 at closing to help offset closing costs.
What is the benefit of 1Day AdvantEDGE?
The innovative 1Day AdvantEDGE process simplifies and expedites the mortgage application process. Once customers complete the online application and provide the required documentation, their application undergoes a seamless automated data verification process. Within 24 hours, customers receive their approval letter, enabling them to proceed confidently with their home purchase.
“1Day AdvantEDGE represents a significant leap forward in the mortgage industry,” said Tim Elkins, PrimeLending’s Chief Production Officer. “We are proud to provide our customers with a simplified and accelerated approval process that gives them a real advantage in today’s competitive market.”
How do I qualify for 1Day AdvantEDGE?
Like any mortgage, there are eligibility requirements associated with 1Day AdvantEDGE. To qualify for 1Day AdvantEDGE you must:
- Meet eligibility requirements for a conventional/conforming loan
- Be a W2 employee or have a verifiable fixed income such as a pension, Social Security, disability, etc.
- Not be relying on any self-employment or rental income
- Not own, and are not in the process of purchasing, real estate other than your primary residence
- Submit initial application and required documents via PrimeLending’s online application portal.
Contact your local PrimeLending loan officer today to discover if you qualify for 1Day AdvantEDGE.
1Approval indicates an Underwriter has reviewed your application and has verified all necessary forms of income, assets, and credit; final approval is subject to property conditions (e.g., inspection, appraisal) and is voided by changes in borrower’s credit, loan program, or unforeseen circumstances beyond lender’s control.
2Restrictions apply. All loans subject to credit approval. Borrower may not own other real estate or rely on self-employment to qualify (W-2 or verified fixed income only). Limited to conventional/conforming loan for purchase of primary residence with a 20% down payment. Must submit application and required documentation via online application portal and integrated resources and receive approve/eligible or accept from automated underwriting system. Refinance, investment, VA, FHA, USDA, jumbo, bond, down payment assistance programs, renovation, construction, and brokered out loans are not eligible. Will be subject to property meeting investor requirements. Eligible applications submitted after 1pm local time or on a weekend or company holiday will be deemed submitted the next business day. Unforeseen circumstances excuses lender’s performance. Effective for applications after 7/11/23. Rates, fees, and offer terms subject to change. See https://www.primelending.com/legal-disclosures/1day-advantedge-terms-and-conditions for full details.
3$250 lender credit will be applied at closing to offset lender closing costs. No cash value. May not be combined with other offers.
