Bank Loan Q’s

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  • #70308
    Rml712
    Participant

    Hello,

    Is ‘Mortgage Process” the right status to be in after your bank loan app has been submitted? How long does it typically take before it changes and conditions start popping up? Does the status change once BoA is actually reviewing your app?

    Thanks!

    #70309
    Nelsont
    Member

    You will be in mortgage process until you close.

    Conditions can take a week or 3 weeks or 2 days to pop up. There’s no timeline. It depends on your unique situation, the judgment of the underwriter, the county, the appraiser, etc.

    #70310
    Rml712
    Participant

    Should “Status: Mortgage Process” still be my status or should it say something else? I’ve seen posts in the FB group where it says “Lender Status:” and then whatever stage it is in. Should mine say that or does that fact that it doesn’t mean BoA hasn’t looked at my app yet?

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