Credit Card Center Advertiser Disclosure

Valued Member
Posts: 32
Registered: ‎06-10-2008
0 Kudos

I'm confused

I a little confused about something that I hope someone can answer. The mortgage broker has me confused. Ok, we applied for a mortgage, the house passed inspection, received (verbally) that our mortgage loan app was approved, now we are waiting for appraisal. Found out today that the appraisal was due to be sent to the bank (I think) today but was not and the sellers agent called the real estate agent / mortgage broker (don't know who) today pressuring them for the results. The broker called me to tell me not to worry (actually was caught sleeping and really relaxed about things, didn't realize that something was due today).


My questions is, what next? where are we in the process? and what is the next step. Can someone explain the clear to close and closing process?



Super Contributor
Posts: 8,706
Registered: ‎09-28-2007
0 Kudos

Re: I'm confused

It sounds like the appraisal was finished up today and it's being sent in for underwriting.  This could be the initial underwriting review, which may take anywhere from a few days to a few weeks to complete.  Or it may be after the initial approval, when additional documents are being sent to underwriting to review, and then on average it takes about 2 days for your file to be next in line and reviewed.  At that point, if everything is found satisfactory, then the final loan documents are drawn up and sent to the closing agent where you'd go in and sign in front of a notary/provide the remaining funds you owe.  Depending on the lenders funding procedures the loan may fund that day, or the signed notarized loan documents need to be overnighted back to the lender for review and then the loan funds.


Not all mortgage processes are the exact same, each bank has slightly difference procedures, time lines and policies so you'll need to ask your loan officer where in the process you are, what is left and the expected time frame.  Continue to ask questions until you are clear.

Mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime) since 2002, based in Irvine, CA and lending in all 50 states

Information that is needed to determine if you qualify for a mortgage

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.