 How long does it take to get a mortgage?
Depending on your individual circumstances getting a mortgage should take between 5 to 20 days.
The mortgage application approval can take even hours, depending on how much information you are able to provide at the time you submitt the application and how much additional documentation may be required to make an underwriting decision.
In some cases, we can actually get your mortgage approved in two-tree hours, or less. To accomplish that, you must fill out our entire mortgage application form completely, filling in every applicable field. If you leave out any information at all, we will have to contact you.
When you submit a complete online application, we then pull a credit report and submit your mortgage application to a Fannie Mae or Freddie Mac automated underwriting system. If you have a good credit history (no late payments on your mortgage or credit accounts) we can usually get a mortgage approval within an hour.
Once your loan is "approved," you will typically be required to provide supporting documentation such as paycheck stubs, W-2 forms and bank statements. We will mail a loan package to you that includes all the forms that you must sign and simply include the required documentation in the postage-paid return envelope along with your signed mortgage papers.
If your credit history is "less than perfect," don't worry. We have loan programs for just about anyone. It takes a little longer to get an approval from a "non-conforming" lender.
So, what are you waiting for? Are you ready? Start your mortgage application now!
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