The underwriters are taking a long hard look at everythimg now. Can they get don faster, sure, but I would now want to risk havimg to extend escrow
The popularity of the fha loans fall into place because it only requires a minimum of 3% downpayment and good credit is a plus but it is more lenient when it comes to minimum credit requirement.
Usually if you have a property already that accepted your offer or refinancing, we usually try to close it within 30 days.
If you have more questions, please visit our website for helpful links and information http://loans.online-connections.org
How long will you have or how long does it take? You have a timeframe in the purchase contract in which to make a complete loan application, generally 7-10 days. It can take up to 30 days to have full underwriting approval for an FHA loan because there are few FHA approved underwriters and FHA loans are on the rise. However, you can speed this up by having all your paperwork complete up front and submit at one time. I was told to allow 45 days for my buyer's FHA loan this month but we're actually going to close in about 21 days.
Diane Conaway, RE/MAX United, (760) 749-2888