How Long Does Underwriting Take?

Underwriting allows the lender to review your finances to ensure you’re a good candidate for a loan.

By Patrick Ward

Written by

Patrick Ward

Freelance writer

Patrick Ward is a personal finance writer with over nine years of experience in mortgages and real estate investing.

Edited by Reina Marszalek

Written by

Reina Marszalek

Senior editor

Reina Marszalek has over 10 years of experience in personal finance and is a senior mortgage editor at Credible.

Updated March 4, 2025

Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.”

Underwriting is a critical step in the mortgage approval timeline. The average amount of time it takes is around 40 days, but it could be shorter or longer depending on how straightforward your application is and whether any issues arise.

Underwriting delays happen for a lot of reasons, but there are ways you can help the process run as smoothly as possible.

To prepare for the underwriting process, learn how it works and what you can do to help your underwriter.

What is mortgage underwriting?

Mortgage underwriting is the process of determining whether a given borrower and property are eligible for a loan. A lender examines your income and financial history to assess whether you’re capable of making monthly mortgage payments before it approves you for a mortgage.

“It’s pretty much the lender's way of checking if you’re a safe bet for a loan. They dig into your financial history to see if you can handle the mortgage payments,” says Mike Roberts of City Creek Mortgage.

The property must also be sufficient collateral to secure the loan. A lender might not approve you for the full purchase price if the home’s appraised value falls too far below the sale offer or it has major flaws and safety issues.

Underwriting is part of the closing process, during which time an underwriter reviews your application, financial documents, and property information to determine whether to approve the loan.

How long does the underwriting process typically take?

How long the underwriting process takes varies. It typically takes about 40 days, but it depends on a variety of factors. If there are many loans being processed at the same time as yours, or your financial situation is unique, the process can slow down.

“Some banks will have same-day underwrites. Others will have you five days in the queue,” says John Aguirre of John Aguirre Home Loans. “All banks strive to keep it as efficient as possible, but ultimately the loan program/product, loan type, and workload of the underwriting department will all play a role in how long it will take.”

Keep in mind:

Some lenders advertise a fast closing process, but remember that the seller may not be able to move out as quickly as you need them to. You’ll need to communicate your timeline to all parties.

What factors can delay underwriting?

There are numerous factors that can slow the underwriting process, but the most common involve documentation errors. Here are the biggest delays to look out for:

Incomplete paperwork: The biggest factor that can delay underwriting is incomplete paperwork. If the underwriter doesn’t have all of the information they need, this can slow down the time it takes for them to do their job.
Unusual finances: Another factor that can slow things down is if you have a unique financial situation. If you’re self-employed, for example, it can be hard for lenders to verify your income. If your finances have a lot of ebbs and flows, for example, banks may have trouble determining your level of risk.
Property issues: If the appraisal comes in lower than the home’s sale price, it can create slowdowns. The underwriter might not be able to approve you for the full amount, meaning you’d have to negotiate with the seller or come up with additional funds to complete the transaction.

How can you expedite the underwriting process?

You can prevent delays during underwriting by responding to communication right away.

Reilly James Renwick, chief marketing officer at Pragmatic Mortgage, says: “When the underwriter asks for something, don’t wait. Make sure you respond right away. I’ve seen deals delayed simply because somebody sat on an email for 24 hours.”

He adds: “And keep your bank account looking clean. Don’t move money around unnecessarily or make big purchases because it raises red flags. Think of underwriting as a high-stakes Jenga game. Meaning: Don’t make it any harder than it needs to be.”

Tip:

Answer calls and emails quickly, and be ready to provide additional documents as requested. If your loan officer forwards you a request from the underwriter, do your best to respond the same business day.

Mortgage underwriting FAQ

What documents are required for underwriting?

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Your loan officer will request various documents for the underwriter throughout the underwriting process. Here’s what you should be ready to provide:

Completed application
Tax returns
30 days’ worth of income documentation
Verification of employment
W-2 forms
Homeowner’s insurance policy
60 days’ worth of asset statements that will cover the down payment and closing costs
Credit report
Purchase agreement
Title documents
Appraisal
Debt statements
Explanation of any income discrepancies

Reed Letson, branch manager of Elevation Mortgage, says, “The underwriting process needs to verify income, assets, and employment. Any items within these three categories can be scrutinized.”

To further ensure the underwriting process goes smoothly, make sure to promptly respond to any questions you receive from your loan officer. A slow response to any questions or requests may delay your closing timeline.

Can you be denied during underwriting?

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Yes, you can be denied during underwriting. This may happen if the underwriter finds concerning issues, such as a spotty credit history.

Mike Roberts, CEO of City Creek Mortgage, states: “If the underwriter finds something concerning while digging into your financial health, such as a low credit score or insufficient income, they can deny your application. It’s their job to protect the lender from risky loans.”

To ensure a smooth homebuying process, make sure all of your credit accounts are current and that your credit report is free of any errors.

Does underwriting happen before or after the appraisal?

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Underwriting is done after the appraisal. This is because the property must be evaluated to determine if it is sufficient collateral for the loan amount. It’s not just the borrower’s financial health that is evaluated. The value of the asset must be determined, too.

How does underwriting affect closing timelines?

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Homebuyers can’t close on a house until underwriting is completed. If there is a delay in underwriting, there may also be a delay in closing.

What is the difference between pre-approval and underwriting?

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Pre-approval is the lender’s process of determining how much money it’s likely to lend to you. At this point, it has examined your credit score and bank statements, and feels relatively confident that it may offer you a specific loan amount. However, it’s not guaranteed.

What helps guarantee it is the underwriting process, which is a more thorough review of a borrower’s financial situation and history. If the underwriter doesn’t find any red flags, the loan is more likely to be processed.

Also keep in mind that the property is also evaluated during the underwriting process to ensure it is valuable enough to act as collateral for the loan amount. During pre-approval, banks only do a cursory review of the borrower based on the pre-approval documents submitted to them. They don’t look at any properties you intend to purchase.

Meet the expert:

Patrick Ward