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Underwriters Question

Posted by ownerbuilder-2008 (My Page) on
Mon, Jun 21, 10 at 15:16

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?

Follow-Up Postings:

RE: Underwriters Question

I have usually gotten answers in a few days.

RE: Underwriters Question

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

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