How long does it take to get final approval from…?
Yes, you cannot close until you get final approval from the underwriter. If the title, appraisal and ALL of your documentation are in, it shouldn’t take more than 2 to 3 days to approve the loan. Technically, it only takes about 25 minutes to underwrite a file…less if it’s clean. PS: Ok….Doris has obviously NEVER worked with FHA loans. FHA are gov’t insured loans, but HUD DOES NOT DO LENDING!!! or the underwriting and are performed NO DIFFERENTLY than any other mortgage loan. As a former FHA underwriter, I used to work for regular banks and I was licensed by HUD through a process called “Direct Endorsement” to underwrite these loans on their behalf. FHA underwriters are also called “DE underwriters”. You are employed directly through the bank and underwrite the bank’s loans long with FHA and VA.
