Underwriters Question

ownerbuilder-2008June 21, 2010

Ok we made it to the top of the mountain again, well almost.

Our buyer has done everything the bank asked, Survey, appraisal, inspections and paperwork. Now their loan officer said it is in the hands of the underwriter.

My question can anyone tell how long this step usually takes to get the final approval from the underwriter?

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I have usually gotten answers in a few days.

    Bookmark   June 21, 2010 at 3:20PM
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it depends on the bank, could be a few days, could be 2 weeks, depends on their backlog. Ultimately, think of the loan officer as the gatherer and the underwriter as the decision maker.

Loan officers will request request and request and give a general check if we got everything, the underwriter makes the decision

    Bookmark   June 22, 2010 at 1:06PM
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