How long after appraisal did you get commitment letter?

Thanks in advance!!!

How long after appraisal did you get commitment letter?

For us it was about two weeks but we had issues because the house appraised for less than we needed.

Re: How long after appraisal did you get commitment letter?

It depends on a lot of factors...

Some banks will give a commitment before the appraisal is even done (it's just pending the appraisal).

Sometimes the appraisal gets done but there are other outstanding items needed by the bank before a commitment can be issued.

Assuming you have all of the necessary info into the bank and the appraisal is the last piece needed for the commitment, then I would say a week to 10 days would be typical.

It dpeends on how quickly the appraiser submits the report to the bank (some do it the day after the appraisal, some take a few days to prepare the report), and then how quickly the underwriter handling your file can review the appraisal.

Re: How long after appraisal did you get commitment letter?

the mortg. company was actually waiting for our appraisal-we had probs w/it-we finally got it-submitted to underwriter last week.

the underwriter asked for 3 thingsyesterday-pay stubs, etc.

i thought these were considered "conditions"-and only would be asked for AFTER the commitment letter.

we were told we would get it ASAP :/

How long after appraisal did you get commitment letter?

I received a commitment letter with conditions prior to receiving the appraisal. After the appraisal I still needed 2-3 more things. Even after I received my final commitment, 24 hours before closing they ran a new credit report, wanted 2 additional paychecks and a summary of all my bank accounts....I thought it would NEVER end!!