I already sent in copies of my paycheck, provided a letter from my employer verifying my job status. I still haven’t gotten any reply yet even after three weeks.
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I already sent in copies of my paycheck, provided a letter from my employer verifying my job status. I still haven’t gotten any reply yet even after three weeks.
Don’t think there is a fixed time frame for these but the more financial credentials you have may generate a quicker response. By financial credentials I mean: previous loan or banking or credit card activities that prove you make prompt and on-time payments. That you keep a low CC balance and pay it off each month. That you live well within your income level. That you have a savings account and contribute to it periodically. These will influence your credit score. If you stayed in one community for most of your life and have family in the area is also seen as a credit worthy citizen. Even better is having 2-income owners and having a down-payment. All the these can create a faster approval process.
It depends on the lending company and how busy the loan officer is. In one case I got lucky to be pre-qualified within half a day and pre-approved within a week. The loan officer was extremely professional and I imagine he had a solid team behind him for this kind of turn-around. Needless to say, the loan was also processed a few days before the projected date.
Another lender I approached took a few days just for the pre-qualification, and there were no major holidays during that time that usually slows down everyone. So, except something is definitely wrong with your whole application process, you ought to have heard back from them. I really don’t know anyway, watch out for what other users will tell you.