How long does it take to get approved for a home loan?

We applied a day ago and wanted to know the time frame as to when anything would go through. I'm using my VA home loan also.

3 Answers

Relevance
  • Anonymous
    8 years ago
    Favorite Answer

    Normally it will be done within 30 days. If you are applying for a secured loan then this takes approx 10 days, a remortgage takes approx 6 weeks, or a first time mortgage takes about 6-8 weeks. Like you say, this depends on circumstances and is a rough guide if there are no hold ups and everything runs smoothly.

    also depends on the number of application the bank have on hand at that time. Lender are more careful than before in their underwriting process and they are doing more credit check

    • Alyssa4 years agoReport

      We have applied for our loan in May. And the bank and underwriters are done with their part. They are waiting for VA approval. It is now August and we will not have our daughter to school on time, no thanks to the VA. We are screwed unless we magically close on the house within 4 days

  • 4 years ago

    We have applied for our loan in May. And the bank and underwriters are done with their part. They are waiting for VA approval. It is now August and we will not have our daughter to school on time, no thanks to the VA. Any paperwork they needed or information was provided within the day of request.... (I hopes that nothing would get held up on our end.) We are screwed now because the kiddo won't be within the school district on time unless we close within the next 4 days.

  • godged
    Lv 7
    8 years ago

    This depends on the lender. There are lenders that can have this done in under an hour, some that have to get a loan application approved by other people takes much longer.

    Source(s): Oregon Realtor
Still have questions? Get your answers by asking now.