The underwriting process happens after the down payment is made, but right before you close on a house. That means that the timing of this home loan process can be crucial, particularly if you want to move in by a certain date.

When should underwriting be done?

Under normal circumstances, initial underwriting approval happens within 72 hours of submitting your full loan file. In extreme scenarios, this process could take as long as a month. However, it's unlikely to take so long unless you have an exceptionally complicated loan file.

How do I know when underwriting is complete?

Your loan officer will submit all your conditions back to the underwriter, who should then issue a “clear to close,” which means you're ready to sign loan documents. This last verification is your final approval.