I have seen that. It shouldn't take any longer than 30 days. It may also depend on the area that you are in. It may have more to do with the transaction than the loan. In AZ it takes only 30 days.
I am only liscensed in Arizona. I refer my out of state loans to another lender. I have been very happy with them. I can refer you to them if you would like.
I'm not to big on the option arms right now. I would go for a fixed rate mortgage at this time. There are circumstances however where an option arm makes sense.
You might not be able to refinance
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