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.
How long it takes will depend on the speed of the underwriter and the orderliness of the application packet you submitted. Thus, the underwriting stage is one of the biggest variables. It could take anywhere from 5 â 25 business days, or even longer. It will also depend on how many people are involved in the process.