How long does underwriting usually take?

Asked by gardeniaverb, Marquette County, MI Sun Aug 4, 2013

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Raoul Lousta…, Agent, glendale, AZ
Mon Aug 5, 2013

i just to be in the lending business for 9 plus years usually 48 to 72 hours with a mortgage broker probably 5 days with a major bank , but times are crazy now and i had files sitting with underwriters 2 weeks ontop of that they keep asking for more conditions ; so should vary from lender to lender

thanks have a great day
1 vote
Rich Homer, Agent, NAPLES, FL
Mon Aug 5, 2013
Engage a local Mortgage Broker for help, don't delay as you will not find a suitable property without one.
0 votes
Jennie Miller…, Agent, Phoenix, AZ
Mon Aug 5, 2013
This could be anywhere from a couple of days to a week. It will just depend on where the file falls in the underwriting queue.
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, ,
Sun Aug 4, 2013
That depends on the throughness of the loan file, the type of loan, the experience and knowledge of the underwriter, and borrowers documentation. I have seen a file take as little as 3-6 hours and as long as many days because the documentation was not complete or raised more questions.
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