Well depending on which lender: they will have a list of appraisers that they use to do inhouse loans. The new construction plans, and the building process, has to have a very specialized person to project the expenses of building. In this particular Residential Marketplace, Lenders are taking additional time and being very selective concerning loans for new construction. I am not able to give you a time frame, because there is no way to predict how these banks are processing these construction loans. Many banks are not even considering construction loans at this time. I would just remain positive, and check with your bank for further instructions as to what you may expect.

If everything goes smooth it should not take more than a couple of weeks. Congratulations!! Let me know if I can help in any way.

You might want to ask the bank when the appraisal is due or was finished, and how long their typical underwriting time is. The builder may know as well.

Good luck with your new home!

After the appraisal comes back at an amount acceptable to the bank then it should be set for closing. This usually doesn't take more than a week. Hopefully, there is not a problem with the appraisal.