Asked by: Yudy Foisasked in category: General Last Updated: 16th June, 2020
How long is Reddit underwriting?
Keeping this in view, how long did your underwriting take?
Underwriting—the process by which mortgage lenders verify your assets, and check your credit scores and tax returns before you get a home loan—can take as little as two to three days. Typically, though, it takes over a week for a loan officer or lender to complete.
Additionally, why do underwriters take so long? Underwriters often request additional documents. Underwriting is the most intense review. Underwriters often request additional documents during this stage, including letters of explanation from the borrower. It's another reason why mortgage lenders take so long to approve loans.
Also know, how long does it take for an underwriter to approve a USDA loan?
one to two weeks
How long does pre approval Take Reddit?
A pre-qualification letter shouldn't take long at all- same day or next day at the most. A pre-approval letter might take a day or two, but could take upwards of a week.