as a mortgage broker, timing is crucial when a borrower frist gues under contract to purchase a home.  its very inportant that we are able to send out the initial loan disclosure package within 24-48 hours to have the borrower sign the Intent to proceed. We need this ITP signed immediately so that we can then order the home appraisal.  (there is typcially only a 7-10 day contiingency period for the home appriasal).

The other important date iin the sales contract is the financing contignecy, (normally 14-21 days from the date of the signed purchased agreement)  by having the initial disclosures signed immediatly it allows me to start the loan process and have the loan underwritten immediatly so that we have no issues meeting the Financing  contingency date specified  in the contract.  the quicker we can received back the appraisl report and obtain underwriting approvval the better I look.