FHA loans take about the same amount of time to be processed as a conventional or VA loan, approximately 45 days. That includes the entire process, from the loan application to the final approval and closing. Here's a quick breakdown of the FHA loan approval timeline as outlined by the FHA handbook:
- Underwriting: 10-20 days
- Appraisal: less than a week
- Closing (i.e. the rest): 3 weeks – 3 months
Keep in mind however that there are a dozen different variables that can affect the time your loan takes to close. What can often take an extended amount of time for FHA loans however is finding a property that meets FHA standards.
FHA Home Requirements
The FHA loan is designed to protect the buyer by setting certain standards that a home…