HOW LONG DOES IT TAKE TO GET A LOAN?WHETHER ITS FOR A CAR OR A HOUSE AND HAVE ANY OF YOU GONE THRU YOUR VA LOAN???

IF SO, HOW LONG AFTER YOU APPLIED FOR THAT LOAN DID IT TAKE THEM TO TELL YOU HOW MUCH YOUVE BEEN APPROVED FOR? 

I took a loan out through NFCU and was approved within 24 hours. 

Same here when we got ours through NFCU we had the money the next day. It was pretty nice lol 

We got approved with PMCU within hours for a car loan, they emailed us a certificate with how much we could be approved for and interest rate, than we took that to dealership. 24-48 seems like the average. 

so you guys think on average it would take like at LEAST 3 days to get a response back....? 

It depends on the loan really. If it is for a home it could take a while because they want to match you up with the right programs or lenders. For everything else though 24-48 hr turn around is normal. 

We went through the VA it took a week almost 2 weeks :) and they were wonderful 

sigh, okay thats what i wanted to hear actually.. than you everyone, very helpful!
MRMG, i appreciate it... i feel better now....but well see! 

For a car loan? Should be a day or two at most.

Home loan is a bit different. Are you going for the pre-approval? We had that the same day. The rest of the process took longer.

From the time your offer on a house is accepted until you close is generally 30 days.

Once you make an offer on a house and it gets accepted, you'll meet with the lender and start all the paperwork (and there's a TON of paperwork) If you are eligible for a VA loan, the lender submits the paperwork to the VA and the VA part is usually done within a week or two pending their appraisal.

From deposit to keys was 27 days for us on a new construction. 

Once you make an offer on a house and it gets accepted, you'll meet with the lender and start all the paperwork (and there's a TON of paperwork) If you are eligible for a VA loan, the lender submits the paperwork to the VA and the VA part is usually done within a week or two pending their appraisal.

From deposit to keys was 27 days for us on a new construction. 

Also depends on the house and the financial condition of the current owners. We bought a short sale and it took 5 months to close after placing an offer. The short sale was already approved when we placed the offer but all these stipulations and pain in the butt ordeals kept arising. So glad it's over! LOL 

its been a week just for pre-approval...going thru va, IS THAT NORMAL TIME? 

Ours was easy for the most part. Had a few speed bumps with a inexperienced loan officer who had never done a VA, but it was handled quickly once we questioned the lender about what was going on. 

I'm confused with what you are asking? Are you waiting on pre-approval amount from a bank or the appraisal from the VA?

The VA part won't come into play until after you have a house under a purchase agreement/contract. 

Yes it is normal for a home loan. Lenders have to really be careful nowadays. It's not like it was a few years ago where they were practically throwing their money at you. There are a lot of things they need to check out. You can't compare a home loan to any other sort of loan. 

okay, thank you all for your imput..ill keep it all in consideration! 

"""I'm confused with what you are asking? Are you waiting on pre-approval amount from a bank or the appraisal from the VA?

The VA part won't come into play until after you have a house under a purchase agreement/contract."""""


Me too. You need to be pre approved for a mortgage loan BEFORE the VA is even in the picture! It can take several weeks to get pre approved for a mortgage. They pull your credit and all that fun stuff. The VA does NOT loan money, they only insure what you borrow from a bank. What bank are you going through?

A car loan and mortgage loan are two WAY separate items. I agree with most above though NFCU pretty much rules. 

Car loan, less than 15 minutes - I finance through the dealer and only buy when I can get 0% interest. 

Whenever we finance through our bank for a car, before we hang up the phone. The only thing still undecided upon would be the interest rate they will say, "with your credit it will either be 2%-8%" since we usually do bussiness on holidays/weekends. By the next day we get a phone call. If it's during bussiness hours we know the interest rate before we hang up.

Our preaproval amount for a house (which we never bought, or went through the whole process, but it was 24hours.) 

I'd just call them and ask if they need more documentation or if there's a problem, as you haven't heard anything.

If you need to work with another lender you should know, they all pull your credit and as long as it's all done in a 30 day time frame, it will only count as one pull on your credit.