Credit-based insurance scores (discussed in detail below) are based on information in your credit report. The first thing you should know is that if GEICO does obtain a credit-based insurance score as part of calculating your insurance quote, the inquiry is labeled as being from the insurance company.
So how long does it take to clear underwriting and close the deal? An FHA loan can stay in the underwriting stage anywhere from two to six weeks, depending on how many issues come up. If you get a superstar underwriter, your file might clear his desk in a week or less.
Once a loan package is submitted to underwriting, if the loan remains with your lender's bank the usual turn-around time is 3-5 days. I've witnessed loans take as long as 2 weeks for approval. But those loans were shopped by the lender when the market was strong with a record number of buyers requesting loan approval.nce the appraisal is ordered, it normally takes 3-14 days for the final report to be received by the underwriter. The underwriter can ask for an appraisal review which can take another 3-5 days.