How long does it take to get approved for a mortgage?

The approval timeline for a mortgage can vary significantly based on several factors, including the lender's processes, the type of mortgage, and the borrower's financial situation. Typically, if a borrower submits a complete application with all necessary documentation, they may receive a pre-approval decision within a few days. However, achieving final mortgage approval could take anywhere from a couple of weeks to over a month. The process involves the lender reviewing the borrower's financial history, credit score, employment verification, and the property itself. If additional information is needed or if there are complexities in the application, this may extend the timeline. It is also important to consider that closing a mortgage after approval can take additional time due to steps such as final underwriting and obtaining necessary signatures. For specific timelines or information about Franklin American Mortgage Company’s approval process, it may be helpful to check their official website for the most accurate and up-to-date details.