How long does the under writing process take?

Asked by Latcook76, Dallas, TX Fri Jul 13, 2012

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Tommy Burris’ answer
Tommy Burris, Mortgage Broker Or Lender, Baton Rouge, LA
Fri Jul 13, 2012
My company is running 3 days right now. We are working to shorten that time, but we have been hit with a lot of files recently.
Some companies can get one out in a day. Yet, I have heard some of the big banks taking 7 - 10 days or more.

Bottom line: You aren't being underwritten for all of this time!! Your file is sitting in a locked file cabinet in line to be seen by an underwriter for most of this time.

Tom Burris
Mortgage Banker
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
NMLS# 335055
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0 votes
Don Groff, Agent, Austin, TX
Fri Jul 13, 2012

It does vary slightly but purchases always have a priority with lenders. As a mortgage broker and Realtor I work with many lenders. Typically I can get an underwriting approval back with a clean file in 2-4 business days from full file submission.

It does depend on the lender and the borrower along with how the file is put together but that is generally the time frame you should expect. Contact your lender to get more specific information from your lender.

Best of luck to you,

Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157 |
0 votes
Kenneth "Ken…, Agent, Dallas, TX
Fri Jul 13, 2012
It depend on how well your loan officer did to prepare your loan. If they did well, just a few days, if they didn't prepare well, a week or two.


0 votes
Dixon Wong, Agent, Dallas, TX
Fri Jul 13, 2012
It depends on the lender.

Usually 2days to 7 business days. The best thing to do is check with your loan officer.

Good luck

JP and Associate
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