Getting your loan listing funded
5 September 2007When you creat a listing, your first objective is to be funded. Then you decide if it is an acceptable rate for you.
So first, you can try starting your listing at the maximum rate allowed by your state, even if that’s 29.9%. Because if your listing won’t fund at the max rate, there’s not much that can be done. Starting with a high rate also has the residual advantage of getting more eyeballs from lenders because many lenders only look at listings with bids or are already 100% funded.
Then, hopefully your listing does get funded and your rate starts to get bid down. Watch the listing carefully to see how low the rate falls. If it is still too high, then you can withdraw the listing. If the rate is low enought, congrats!
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