Can a member obtain credit access approval while waiting for the Condo/Co-op questionnaire?

Obtaining credit access approval while waiting for the Condo/Co-op questionnaire is indeed possible without any delays. In many scenarios, lenders understand that the approval of a condominium or cooperative project can take time, and therefore, they may proceed with evaluating a member's mortgage application based on the information already available. This allows the member to receive credit access approval and begin their house-hunting process without being held up by the pending questionnaire.

In this case, the credit access process is designed to be efficient so that potential buyers can move forward in their search for a home without unnecessary waiting periods. It’s important to note that while the questionnaire is necessary for final approval of the condo/co-op project, it is not a prerequisite for initiating credit access approval. This practice helps streamline the mortgage process and supports buyers in making timely decisions in a competitive housing market.