How long does it take to get pre-qualified or pre-approved for a loan?
Loan pre-qualification can occur in a matter of minutes, in the time required to communicate your financial circumstances to a lending professional so they can crunch the numbers. Loan pre-approval could involve more time up to 1-3 days to gather the applicant’s income, asset and credit documentation and to have an underwriter review it. Whether you are requesting a pre-qualification or pre-approval, ask for it in writing. Both your real estate agent and a potential seller will want a letter from your lender. Boulevard Mortgage does this for free.
