💡 How Long Does Underwriting Take After Conditional Approval - Clever.net

How Long Does Underwriting Take After Conditional Approval

The conditional approval process usually takes anywhere from 1 – 2 weeks, and the closing day comes shortly after that. The best way to ensure a fast closing process is to resolve any issues that come up with underwriting quickly. The faster you can resolve these issues, the sooner you'll be able to close on your home.

How long does it take for underwriter to give final approval?

Mortgage lenders have different 'turn times' – the time it takes from your loan being submitted for underwriting review to the final decision. The full mortgage loan process often takes between 30 and 45 days from underwriting to closing.

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How long does it take to get final approval from conditional approval?

Getting your loan from conditional approval to final approval could take about two weeks, but there's no guarantee about this timeframe. You can help speed up the process by responding to your underwriter's questions right away. Submit the additional documents the same day of the request, if possible.

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What comes after conditional underwriting approval?

After the underwriter signs off on the loan, they will conduct a final review to double-check that all of your documentation is correct. The lender will also do a check on your credit and employment status one more time. You should receive your closing documents, which you will need to review and sign.

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What happens after underwriting is approved and conditions are met?

When a loan request has met the underwriting requirements and has been reviewed and approved by an underwriter, you will receive a commitment letter. The letter will indicate your loan program, loan amount, loan term, and interest rate. Though it, too, may include conditions that may need met before closing.

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