Loan application turn around time?
Loan application turn around time?
Hi, i'm curious to find out what a normal standard turn around time is?
- Otto Dargan
- Mortgage Specialist
- Posts: 7730
- Joined: Sat Sep 06, 2008 5:55 pm
- Location: Sydney, Australia
- Contact:
Re: Loan application turn around time?
Hi Mary,
Most of the major banks have terrible turnaround times at the moment. There is a lot of inconsistency where we may be able to get one persons loan approved in a day while another person in a more complex situation may take several weeks. We are recommending that people apply with non bank lenders if they qualify for a loan with them as the approval is faster and the rate is often cheaper.
Hope that helps.
Most of the major banks have terrible turnaround times at the moment. There is a lot of inconsistency where we may be able to get one persons loan approved in a day while another person in a more complex situation may take several weeks. We are recommending that people apply with non bank lenders if they qualify for a loan with them as the approval is faster and the rate is often cheaper.
Hope that helps.
- Otto Dargan
- Mortgage Specialist
- Posts: 7730
- Joined: Sat Sep 06, 2008 5:55 pm
- Location: Sydney, Australia
- Contact:
Re: Loan application turn around time?
Many lenders are now returning to normal service levels. This is in the range of 2 days to 2 weeks for a full approval depending on the lender.