Conditional Approval

[luckyashes04]

How long does it take UW to issue a conditional approval after it has been submitted to the UW?

We were told we should get a conditional approval the first week of March, the 2nd week I emailed my LO about it, in the past she NEVER answered my emails. However this time around I copied the homebuilders general manager in the area on it, and my LO responded within 2 hours, and within 3 days we got our conditional approval(funny how when I copy a boss on the email things get moving). Anyways, it just seemed strange how nothing was happening and then all the sudden she moved fast. Also, she kept asking for stuff. I know this probably isn't true, but would she just do the bare min to get me to be quiet and not even really submit it to the UW, or does it really only take a day or 2 to get a conditional approval?

[tooleman694]

It took us a couple of days to get our conditional approval.

[Kozmo]

Mine took a week

[playboy]

It seems like it varies from lender to lender.  My conditional approval came back in one day.  LO sent  over the file to the uw on a Thursday afternoon at 3pm and I received a email on Friday morning at 8:00am saying that I was given conditional approval.  The final approval took a week.

[JM-AM]

It varies between Lenders, the type of loan, and the clients situation.

Some Lenders and UW's are busier then others.

The type of loan you are seeking may have additional overlay requirements.

You the client can be self employed, you can have weaker credit scores, you can have late payments.

It all matters on how fast you get a response. My last client submitted at 947am this morning (3/27/13) came back with approval already at 137pm today (3/27/13) with only condition of appraisal. Will close on April 8th 2013.