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.
No, that is not normal at all. A good mortgage lender will have a pre-approval done for you within 24 hours. You should find another lender. Maybe get a referral from a realtor for a good lender in your area.s to the replies of doing loan approval on the phone....The pre approval process is more then asking a few questions on the phone. That process went away with sub prime loans and for good reason.