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How many days from Appraisal report to Loan Approval?

Profile picture for malnik
I open a 30 days escrow about 15 days ago.  My agent, escrow house and I have provide my lender all required documents. Inspection for the home is complete. Today, my lender received the positive appraisal report today.   How much longer should I expect to recieve a final loan approval?
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February 15 2011 - Redondo Beach
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Answers (5)

Profile picture for BeachGirlRealty
There is no hard fast answer to this question as there can be so many variables. It does take longer these days than a few years ago. Recently, I have had appraisals returned within 3 days and as far out as 2.5 weeks.
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February 17 2011
Profile picture for LUXURY HOME LOANS CA
You shouldn't have to be reaching out to anyone. You deserve to have 24/7 access to your loan's status. If you can't log in to receive this, at least someone should be contacting you several times a week to keep you informed.

Happy funding, Rudi
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February 16 2011
Profile picture for cynthianewton
It could be anywhere from a week to 3 weeks depending on the lender your loan officer choose.  Talk to your loan officer or the processor
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February 16 2011
Profile picture for BeachCityTony
Depends on the type of loan, agency, and the details in your loan file.  It should be about 3 days in underwriting but could be as much as 5-7 business days.  I would certainly reach out to your loan officer to get an update regularly...
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February 15 2011
Profile picture for Courtesy Mortgage
Good question for your Loan Officer.

Find out what conditions remain on your approval and what are the expected turntimes to review appraisal.  
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February 15 2011
 

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