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Va Loan almost complete but have a question about underwriting?

I locked in my 30yr fixed rate 2 weeks ago at 4.5 Everything has gone smooth with home inspection. Had copy of appraisal sent to me which came in at 3,000.00 more than sale. It just wants a porch roof re-shingled. Underwriting has had my info for about a week now. How much longer are they gonna take and what else may they want? Thank you for any feedback!!
  • May 31 2011 - Bartlett
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Answers (3)

The underwriter i sthe only one that can answer that.  We have no idea what you have already provided...so no way to know what additional info they may need.  Ask you Loan officer.
  • June 12 2011
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The underwriter will be updating the approval after review of the appraisal and any title or inspection reports.  The initial approval generally is a review of your information:  Credit, employment, reserves, etc...there are additional reviews for the property.  And, whether you are working with a broker or bank makes a considerable amount of difference in the time frames.  It doesn't sound like you have any significant issues, sometimes it is just a time thing.  Also, bear in mind that most lenders focus on the close of escrow date more than the days in underwriting.  If there is no rush to meet the close of escrow they might not be rushing to get your file to the document stage.
  • June 11 2011
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It all depends on the Lender are you working with a Broker or a Banker/Direct Lender or one of the Big Banks? The loan officer that you are working with should be able to provide you with a status on what is needed from the underwriter.
  • June 11 2011
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