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.
Marc Paolella, Agent, Succasunna, NJ. Pre-approvals often last 30 days, but can be re-issued and reprinted in about 10 minutes from whatever mortgage pro gave it to you in the first place. As long as your FICO hasn't deteriorated, it's not a problem.Which brings up another point.orey Grushin, Agent, East Brunswick, NJ. The length of time a mortgage Pre-approval is good for is based on the loan program being used, but at the same time a pre-approval is worthless.