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This question is about what a mortgage underwriter does and mortgage underwriter.
How long does it take for the underwriter to make a decision?
The time it takes a mortgage underwriter to make a loan decision varies on several factors and can be anywhere between a few days and many weeks. Under normal circumstances, initial underwriting approval happens within 72 hours of submitting your entire loan file.
The entire mortgage loan process often takes between 30 and 45 days, from underwriting to closing. But turn times can be impacted by several different factors, like internal staffing policies, loan application volume, and the complexity of your loan profile.
Once your loan and application details are prepared, an underwriter will look over the file and verify the applicant qualifies for the loan and that the lender isn't taking a risk in lending to them.
Therefore, the time it takes them to decide typically depends on whether they have all the information needed and how risky a person is as a borrower. Depending on these factors, mortgage underwriting can take a day or two or take weeks.
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