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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.
Ivan Diaz, Mortgage Broker Or Lender, , An approval depends on the lender, type of mortgage Pur/ Ref and how long it takes for you to supply documentation. You can get a conditional approval/commitment from a Mortgage Bank based on supplying further documentation/conditions in less than a week.f you applied after making an offer (no pre-approval) - most lenders will take from 30 to 60 days. FHA loans take longer than conventional.