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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.
On average it takes lenders 30-45 days to close on a loan. You can begin your interview process with the agents once you have received your pre-approval letter. Usually after viewing 5-7 homes you should have a good idea of what you like. If you have any other questions, feel free to reach out to me.n average it takes lenders 30-45 days to close on a loan. You can begin your interview process with the agents once you have received your pre-approval letter. Usually after viewing 5-7 homes you should have a good idea of what you like. If you have any other questions, feel free to reach out to me.