How long do I need to wait after submitting documents the underwritter requested?

[Alonso]

I'm in the process of the purchasing a house and the underwritter required homeowners insurance. How much insurance do I need, just want something basic, the purchase price for the home was $48000 and was built 1983, 3 beds 1 bath , 1 car garage is there a minimum insurance I have to buy?

[Cat Damiano]

Alonso,


This is something that an insurance agent should be able to help you with. Try contacting the agency you have your auto through as they may give a good price for using them for both.

[Alonso]

My loan is finally out of underwritting and the underwritter requested a few things like homeowners insurance, and a few signed documents which I provided. The thing that worries me is that he requested my w2 for the past two years, well I only have the 2011 W2 and the unemployment paper I received to report it in my taxes for 2010. I filed jointly with my wife but she's not in the loan application due to her credit. How likely will my loan be approved or rejected once he sees this?. I went through my personal bank to apply for the loan and I been with them 10 years, paid a car with them, paid a credit card with them, have my savings and checking with them as well as my Retirement savings account. Also, my credit score is really good,when they checked it I had a 760. Any help will be appreciated.

[Alonso]

My loan came out of underwritting a week ago and the underwritter requested a few documents as well as homeowners insurance. I sent the documents to my loan processor about 1 day ago and she mentioned she had forwarded them to the underwritter, how long do I have to wait now to get some kind of update? the closing is set for February 17 , the worst thing is just waiting to hear something back. Any help will be of great help.

[Cat Damiano]

Alonso,


The person that is helping you to get the mortgage should be able to let you know how long the process will take from start to finish.