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How Long Does It Take to Get Approved for a Mortgage? A Step-by-Step Guide

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If they can get and check all of your information on time, many lenders can pre-approve you for a mortgage in less than a day. You may be asked by your real estate agent if you are pre-approved for a mortgage before you make an offer on a home. At Zillow Home Loans, once you get pre-approved you get a pre-approval letter that same day that you can download and share with your real estate agent. *.

Mortgage pre-approval isnt a requirement but can help speed up the mortgage application process. A pre-approval lets you know the loan amount and interest rates you will likely qualify for, and it also lets sellers know that you’re a serious and financially ready buyer. Once you’re pre-approved, you can take the next step towards getting fully approved and close on a home. According to a Zillow study, almost all mortgage buyers (96%) reported getting pre-approved for financing. Most reported getting their pre-approval before making an offer (67%) and taking their first private home tour (64%).

The process of getting a mortgage can take a long time, but knowing what to expect can help you make plans. This shows you how long it takes to get a mortgage, step by step.

Pre-Approval Stage

It’s the first thing you need to do to get a mortgage. Sending paperwork and details to a lender to make sure you can get a loan is part of this process.

The pre-approval process can take as little as 1 day but usually takes 1-2 weeks Here are the steps

  • Submit Information (1-3 days) – You’ll need to submit financial documents like tax returns, bank statements, pay stubs, and a copy of your ID. Gathering these documents together can take a few days.

  • Lender Review (1-5 days) – The lender will verify your finances, employment, and credit. Most lenders can do this within 1 business day if you provide all documentation upfront.

  • Get Pre-Approval Letter (Same day) – Once reviewed, you’ll get a pre-approval letter stating the amount you’re approved to borrow.

Getting pre-approved first is recommended but not required. It lets sellers know you’re a serious, qualified buyer and can speed up the mortgage approval process.

Mortgage Application

After getting pre-approved, you can start seriously looking for a home. Once you have an accepted offer, you’ll apply for a mortgage.

The mortgage application process takes 2-4 weeks and includes:

  • Submit Full Application (1-2 days) – You’ll provide updated documentation and formally apply for a loan.

  • Home Appraisal (1 week): The lender will look at the house’s value to make sure it’s worth the loan amount.

  • Title Search (1 week) – The lender checks for liens or other issues with the property title.

  • Final Underwriting (1 week) – The lender does a last review of your finances before approval.

  • Closing Disclosure Form (3 days) – You’ll get final loan terms to review a few days before closing.

As long as your finances haven’t changed, having a pre-approval can shorten this process since the lender already has your information.

Time From Offer to Closing

From offer acceptance to closing day, the typical timeline is:

  • Get Pre-Approval (1-2 weeks) – Ideally done before submitting an offer.

  • Offer Accepted (1-2 days) – Time will vary depending on negotiations.

  • Mortgage Application (2-4 weeks) – Includes appraisal and underwriting.

  • Closing (1-2 days) – Final walkthrough and paperwork signing.

The entire process takes 4-8 weeks typically. Closings can happen faster in some cases, like with all cash offers. But financing a home purchase will take a minimum of 3-4 weeks.

Factors That Impact Timeline

While the typical mortgage approval timeline is 4-8 weeks, several things can make it shorter or longer:

Speed Up Approval:

  • Getting pre-approved upfront
  • Providing complete documentation quickly
  • Having a good credit score and debt-to-income ratio
  • Buying in a low-competition market

Delay Approval:

  • Changing lenders mid-process
  • Having an irregular income source
  • Paying down debts to improve DTI ratio
  • Providing documentation slowly
  • Issues found during title search or appraisal

Tips for a Smooth Process

Here are some tips to help your mortgage experience go quickly and smoothly:

  • Check credit reports – Correct any errors immediately so your credit is clear.

  • Gather paperwork – Tax returns, pay stubs, bank statements. Have everything ready to provide quickly.

  • Pay down debts – Consider paying off cards or loans to lower your DTI.

  • Start early – Begin getting pre-approved 2-3 months before seriously house hunting.

  • Stay patient – Approval takes time. Avoid any major purchases during the process.

The mortgage approval process takes anywhere from 3 weeks to 2 months typically. Getting pre-approved first, having your finances in order, and promptly providing paperwork can help expedite the timeline. Stick to the same lender throughout the process and be patient as they work through all the required verifications.

how long does it take to get approved for a mortgage

Is pre-approval the same as pre-qualification?

Pre-qualification is another term you may hear during the mortgage process that often gets confused with mortgage pre-approval. While lenders may treat these terms differently, generally the main difference between pre-qualification and pre-approval is that a pre-qualification is an estimate of what you might be able to borrow, while a pre-approval is a conditional commitment to lend you a specific amount as long as you continue to meet the loan qualifications when you apply for the home loan.

You can get pre-qualified with us at Zillow Home Loans in as little as five minutes and pre-approved in the same day.*

How quickly can you get pre-approved for a mortgage?

Most lenders can process your mortgage pre-approval the same day you apply. Some may take one to two business days. Here is a step-by-step look at the mortgage pre-approval timeline:

How Long Does It Take To Get Approved For A Mortgage???

FAQ

How long does it take to get full approval for mortgage?

The average time for formal approval takes about four to six weeks from submitting the application to your lender, to reaching settlement on the property.

How long does it take to get a home mortgage approved?

So, how long does it take to get a mortgage approved before you can close? The average mortgage process takes 49 days from application to close.

How quickly to get mortgage approval?

It can take anywhere from 4 to 8 weeks, depending on the lender, your finances, and how quickly you give them the paperwork they need.

How fast can you get approved to buy a house?

You’ll be looking for conditional approval within 2-3 days. FULL approval however, will more likely be 30-45 days. The main reason for this is that the bank isn’t just reviewing your credit/income/assets, they are also reviewing the collateral backing up the loan, ie the house you want to buy.

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