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The underwriting process may take a few days, or it could take a few weeks. There's no standard time period for this part of the mortgage process.
The main things a lender will be checking is your income, your regular bill payments, and transaction histories. Mortgage companies will be checking your outgoings against potential repayments to see if you'll be able to afford them.
How to apply for a Chase mortgage. Chase offers home loans in all 50 states, but it doesn't specify its minimum eligibility criteria. In general, though, you'll need at least a 620 credit score for a conventional loan.
Mortgage application fee: Generally around $250 to $500, this is the fee associated with applying for the new loan. Appraisal fee: Ranging from $300 to $600, most lenders ask for a home appraisal to determine the value.
A mortgage application requires extensive information, including the property being considered for purchase, the borrower's financial situation and employment history, and more. Lenders use the information in the application to decide whether or not to approve the loan.