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There is a 90 day window to obtain the mortgage.

Thanks all.

This is certainly a time when you want to choose a Loan Officer and mortgage company based on service. It would be a costly error to base a decision on a mortgage company as if you were buying a commodity and then not close within 90 days of your purchase.

In my scenario the attorney purchased his primary home for cash, this differentiated him from other bidders on the home. His cash offer provided a ten day closing from contract ratification.

I started working with him shortly after he bought the home. He was referred from a past client. As the loan closed after he purchased the home, the loan was viewed as a cash out refinance vs a home purchase loan, and there was a slight bump to rate. Glad to see confirmation on what he told me, that the mortgage interest on this loan is tax deductible.
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