how quick can a conventional mortgage loan application be approved?

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2 Comments
  1. Reply
    Rich
    January 21, 2011 at 12:51 pm

    As long as the title work is clean and credit score is good, many companies could do it within a few days. The longest part is getting an appraiser out to the property.

  2. Reply
    Jae
    January 21, 2011 at 1:30 pm

    The process generally takes 2 weeks, but the length of time it takes can also depend on you. If you take an application and you appear to qualify more often than not we require documents from you such as the last 2 years W2’s, a couple of recent paystubs, and also tax returns if you’re self-employed. The speed in which we receive these documents depends on you! Not everyone has these documents readily available but can get them if they’re serious about getting a loan. After these documents are given to the broker, the appraisal and title are ordered (which is the most time consuming part because you’re just waiting on the results to come back.) After that you are approved as long as the appraisal comes in at the value you need and the title is free and clear, then you’re headed to settlement 🙂

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