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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.
It depends. If your loan is straightforward, 15 minutes. If there are complications or issues, it can be best to get a full underwriting approval so you don't have any 11th hour surprises. Full uw approval can take a few days to a week.i There, Actually, it's best to shop around, just don't do it over a period of months. Call a few lenders in the same week or two. You should get one ding each 30 days (from my understanding) on your credit score once the credit bureaus see that you're contacting lenders.