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A loan approval process should take anywhere from 1 day to 1 month, depending on the size and type of loan applied for, as well as the credit risk and underwriting needed for the borrower. loan approval process should take anywhere from 1 day to 1 month, depending on the size and type of loan applied for, as well as the credit risk and underwriting needed for the borrower.
And, because buying a home is a time-sensitive process, a popular question among home buyers is related to how much time it takes to get a mortgage approved. Truly, there's no âtextbookâ answer to this question. The amount of time it takes to get a loan will vary. However, the majority of lenders will close a loan in roughly the same amount of time. In most cases, a buyer's mortgage can be approved within 30-45 days of application.