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Seven Questions to Ask any Loan Officer

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Seven Questions to Ask any Loan Officer

#4 What is your ‘Pull-Through’ Rate?

Pull through rates are the rate of loan applications taken that are successfully closed within 90 days or less.
Pull through rates are the rate of loan applications taken that are successfully closed within 90 days or less.

Ask any seasoned loan officer his pull through rate and he should be able to tell you accurately within a few percentage points. Ask a rookie loan officer the same question and you’re likely to get a deer in the headlights look.

Pull through rates are important because the measure the number of applications submitted to underwriting vs. the number of those applications that close. Although high today than in years prior pull-through rates have plummeted in 2014 due to new rules from Washington such as the Ability to Pay and Qualified Mortgage rules.

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Since relocating from Northern Michigan in 2007 I have lived in Garner (27529) with my wife Melanie and our four children. With personal production of 8MM in real estate sales across Southern Wake County I am considered to be a local market expert in the following communities: Garner (27529), Fuquay-Varina (27526), Holly-Springs (27540), Apex (27502), and Raleigh (27603, 27604, 27606, 27609, 27610)) which spans from downtown Raleigh to Willow Spring including Lake Wheeler. Call or email me, I’m here to help! Ricardo Cobos (919) 526-0183