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.
There are many variables that can determine how long it takes to close on an FHA loan. Underwriting is one of the biggest variables. Once youâve found a home and signed a contract with the seller, the rest of the lending process might take two or three weeks on the short end, or two to three months on the long end. There are many variables and several different people involved.