Most of you are aware that the $8000 tax credit for first time home buyers ends on November 30th. November is a short month, with only 17 business days. Tennessee Housing (THDA) has established November 16th as the deadline to submit files for closing prior to the November 30th expiration date. Because these loans have to be complete when lenders submit to THDA, lenders need adequate time to originate, process, and underwrite the files prior to the THDA submission. Therefore, we are making October 16th our deadline to turn in a file for THDA financing. This will allow us approximately 21 business days to work on the file, and send to THDA.
For first time homebuyers not using THDA, but still expecting to close on or before November 30th, we are requiring loans to be submitted to underwriting by October 22nd.
Loan submission means that we have a complete application, signed disclosures, credit docs (paystubs, w-2’s, etc..), and contract by October 22nd for non-THDA loans (October 16th for THDA loans).

Info Provided By:

Joe Repass
Regions Mortgage
40 Burton Hills Blvd., Ste. 370
Nashville, TN 37215
Direct: (615) 748-2824
Cell: (615) 400-7564
Fax: (615) 748-2823
joe.repass@regions.com
www.regionsmortgage.com/joerepass