How Long Does It Take to Get Approved for a Mortgage?

Getting approved for a mortgage is one of the biggest steps in buying a home. So, how long does it take? On average, mortgage approval takes between 30 to 45 days, but this timeline can be shorter or longer depending on factors like your credit score, lender, and financial preparedness.

But here’s the good news: You can take steps to speed up the process and avoid common roadblocks.

By the end of this post, you’ll have a clear action plan to get approved faster and with less stress.

Credit: Tierra Mallorca

How Long Does Mortgage Approval Take? (Step-by-Step Timeline)

The mortgage approval process can be broken into 4 key stages:

1️⃣ Mortgage Pre-Approval (1–10 Days)

This is an optional but highly recommended step where the lender evaluates your creditworthiness and gives you an estimated loan amount.

• 🏠 Fastest timeline: If you have all your documents ready, you can get pre-approved in as little as 1 day.
• 🏠 Slowest timeline: If you have credit issues or need to verify additional income sources, it can take up to 10 days.

2️⃣ Home Search & Offer (Varies - Typically 1–10 Weeks)

Once pre-approved, you start house hunting. The time needed here depends on:

• Market conditions (hot markets = faster)
• Your personal preferences (are you picky?)
• Offer acceptance & negotiations

Once your offer is accepted, the mortgage approval process officially begins.

3️⃣ Mortgage Processing & Underwriting (30–45 Days)

This is the most time-consuming part. It involves:

• Loan Application Submission (1–3 days) – You formally apply for the loan.
• Processing & Underwriting (10–25 days) – The lender reviews your finances, employment history, and credit profile.
• Appraisal & Home Inspection (7–14 days) – The lender orders a home appraisal to ensure the property is worth the loan amount.
• Final Loan Approval (3–7 days) – The lender issues a “clear to close” once everything checks out.

4️⃣ Closing (1–2 Days)

Once approved, you sign the mortgage documents, pay closing costs, and officially become a homeowner!

Factors That Affect Mortgage Approval Speed

Several key factors determine how fast (or slow) your mortgage gets approved:

🏦 1. Type of Lender You Choose

• Online mortgage lenders → Often faster, with approvals in as little as 10 days.
• Traditional banks & credit unions → Can take 30+ days due to stricter verification.
• Mortgage brokers → Can help find faster approvals by comparing multiple lenders.

📄 2. Your Financial Preparedness

• If you have all your documents ready, the process moves faster.
• Missing paperwork can cause weeks of delays.

💳 3. Credit Score & Debt-to-Income Ratio (DTI)

• Credit score of 740+ = Faster approval & better rates
• Credit score below 620 = May require manual underwriting, adding extra time
• DTI above 43% = Higher chance of approval delays

🏠 4. Property Appraisal & Home Inspection

• If the home appraises lower than expected, renegotiations can delay approval.
• A failed inspection may require repairs before the loan is approved.

🛠 5. Employment & Income Verification

• Self-employed? Expect longer processing times due to additional documentation.
• Changing jobs before closing? Could delay or even cancel your approval.

Credit: Towfiqu barbhuiya

Common Delays & How to Avoid Them

🚨 Here’s what can slow down your mortgage approval—and how to prevent it:

❌ Missing financial documents → ✅ Keep tax returns, W-2s, and pay stubs ready.
❌ Low credit score → ✅ Work on improving your score before applying.
❌ Debt-to-income ratio too high → ✅ Pay down existing debts.
❌ Property issues (low appraisal, failed inspection) → ✅ Negotiate repairs or find another home.
❌ Lender inefficiency → ✅ Choose a lender with a reputation for fast processing.

What If Your Mortgage Gets Denied? (And How to Fix It)

Being denied for a mortgage is frustrating, but it’s not the end of the road. Here’s what you can do:

1. Find Out Why You Were Denied

• Was it your credit score?
• Was your DTI too high?
• Was there an issue with employment verification?

2. Improve Your Financial Situation

• If your credit score is low → Pay off debts, dispute errors, and wait a few months before reapplying.
• If your DTI is too high → Pay off a credit card or increase your income.

3. Apply with a Different Lender

• Some lenders have more flexible requirements than others.

4. Consider a Different Loan Type

• If you were denied for a conventional loan, you might qualify for an FHA or VA loan with lower credit score requirements.

Comparison: Banks vs. Credit Unions vs. Online Lenders

🏦 Traditional Banks → Slower (30+ days), strict requirements, but reliable.
🏡 Credit Unions → Moderate speed, lower fees, but may have stricter membership rules.
💻 Online Lenders → Fastest approvals (as little as 10 days), more flexible credit requirements.

💡 Best Choice? If speed matters, go with an online lender or mortgage broker.

FAQs (For SEO & "People Also Ask" Optimization)

🔹 How can I speed up my mortgage approval? → Have all documents ready, maintain a strong credit score, and choose an efficient lender.
🔹 What is the fastest way to get mortgage approval? → Online lenders can approve loans in as little as 10–15 days.
🔹 What happens if my mortgage application is denied? → Improve your finances, try a different lender, or apply for a different loan type.
🔹 Does a higher credit score speed up approval? → Yes! A 700+ score typically results in faster processing and better rates.

Final Thoughts & Call to Action

Want to get approved for a mortgage faster? Follow these tips:
✅ Get pre-approved before house hunting
✅ Choose a lender known for quick processing
✅ Keep your credit score high & financial documents ready