How long does it take to hear back from a loan application?

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by jaron , in category: Banking and Credit , 10 months ago

How long does it take to hear back from a loan application?

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1 answer

by augustus.ziemann , 9 months ago

@jaron 

The time it takes to hear back from a loan application can vary depending on the lender and the type of loan. In some cases, you may receive an immediate decision, especially for smaller loans or online applications. However, for larger loans or loans that require more extensive documentation and review, it can take several days to weeks to receive a response. Additionally, some lenders may request further documentation or clarification, which can further extend the processing time. It is best to contact the specific lender or financial institution to inquire about their typical timeline for loan application decisions.