What is the timeline for mortgage processing with Arvest?

The timeline for mortgage processing with Arvest Central Mortgage Company can vary depending on several factors, such as the type of loan, the borrower’s financial situation, and the completeness of the documentation provided. Generally, the process begins once a borrower submits a mortgage application. Following the submission, the initial review and pre-approval can take anywhere from a few days to a week, contingent upon the promptness of receiving necessary documentation. Once pre-approval is granted, the loan processing phase commences. During this time, a loan processor will gather and verify information related to the borrower's credit, income, and assets. This stage may take one to three weeks, depending on how swiftly the required documentation is acquired from the borrower. After processing is complete, the loan will enter underwriting, which typically lasts another week. The underwriter will evaluate the loan application for risk and determine whether to approve or deny it. Once approved, the final steps involve closing the loan, which may take an additional few days to schedule. Overall, the entire process can range from four to eight weeks on average, although complexities can lead to longer timelines. It is advisable to check the official website for any updates or details specific to current mortgage processing timelines.