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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.
If you applied after making an offer (no pre-approval) - most lenders will take from 30 to 60 days. FHA loans take longer than conventional.If you had a pre-approval-so most docs are there already, and they are updated, the actual approval will take 21 to 30 days.Hope this helps,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.