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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.
Usually most companies are able to provide the needed documentation within 2 to 4 weeks. And the states take 8 to 12 weeks to process the application. So the average time to obtain a mortgage license from start to finish is between 10 to 16 weeks.But remember, you need to make sure the application is complete and to provide the needed documentation right away or it could easily turn in to a 9 to 12 month process. 04.13.2009.10:07.gain, a process that should take a couple months turns into 4 or 5 months very easily. Another very important aspect of how long it will take to get a mortgage license is the time to prepare the application.