How long does it take to get pre=approval? I sent my w2's +payslips 2 weeks ago but nothing since!

Profile picture for IrishinDC
Can anyone tell me how long it takes to get pre-approval?  I submitted all the relevant documents (W2's; payslips; etc) and they've run the credit history check (i got notified by my bank of activity in that regard) and I received back the originals in the mail last week but I havent heard anything from the mortgage guy!  I emailed him Friday to know how long it takes but got an out of office.  Does it usually takes a few weeks?  Once i get that am i then able to start looking for someting within that price range (assuming I get pre-approved!)?
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February 24 2009 - Glover Park
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Answers (8)

Profile picture for IrishinDC
Actually you're way off the mark (and jumping to all the wrong conclusions I might add.).  He was very impressed that my credit score was so high and that I've no loans, debts and have already saved the deposit and closing fees so hence am an excellent mortgage candidate. I've since got approval and made an offer on a property (although dealing with a stubborn seller so moving on to find somewhere else to buy as I wont waste my time with sellers holding out for top prices in a buyers market!)  Anyway I'd already told everyone he got back to me so consider this closed!
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April 29 2009
Profile picture for PJsellsFlorida
Hello. Just so you know pre-approvals can be and are usually done within minutes. Anything past 24hrs is unacceptable for a professional mortgage person, specially after receiving all of your documents. Most likely he did not like your credit profile and decided to coldly discard you, or he just really does a horrible job at following up.
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April 27 2009
Profile picture for IrishinDC
thanks everyone - he got back to me so progress was made!
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April 27 2009
Profile picture for Ken Kopper
Chris, the original post was from 2/24/2009 and over two months old.
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April 27 2009
Profile picture for DCCB
Good afternoon,

I concur with the others, this individual has dropped the ball and likely lost your business.

Give Addie Gil at Prosperity Mortgage a ring at 703-350-6709 (cell). She is superb with follow-up. Shoot me an email at Beaumont@LNF.com and I will provide additional references.

Congrats on your new home search. If I can be of assistance, please do not hesitate contacting me.

Best,

Christopher Beaumont
Georgetown Long&Foster
www.DCchrisBlog.com 
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April 27 2009
find a new lender... a good lender should know after reveiw themselves where to place your loan.... move on and away fast... get a good lender who knows what they are doing...

Connie
WGA Real Estate - Broker Owner
562-824-4846
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April 25 2009
Profile picture for Adriana Steel
That is waaaaaaaaay too long. You can get a pre-approval the same day with a good lender. Call me with questions.
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April 25 2009
Profile picture for MikeEmery
If you post this question under 'mortgages' in the advice section, I can guarantee that you will get a response from a mortgage person. Two weeks is crazy long to wait for pre-approval. 
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February 24 2009
 

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