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.
When Things Go Wrong With Your Mortgage. Mortgage approvals take time. In a typical home loan market, 45 days is normal time frame. The time to get an approval, though, can change based on the market environment or how complicated a loan might be. For example, when mortgage rates are low and there's a refi boom on-going, closing on a loan take as long as two months.