07-09-2012 12:28 PM
I called US Bank today to ask how long a pre-approval typically takes, and they said 60 DAYS!
That seems completely ridiculous to me....am I just misinformed on how long the process takes? I thought it'd be a week or two at the most...
07-09-2012 12:33 PM
Yeah, that seems nuts. Ours took about 12 seconds. Credit pulled, info run through GUS. You are pre-approved for XYZ.
07-09-2012 07:47 PM
60 days is ridiculous. Perhaps they meant to close, on average?
07-10-2012 06:28 PM
07-10-2012 06:55 PM
07-11-2012 10:12 AM
I got conditionally preapproved in about 3 hours yesterday with Wells Fargo and my LO said that an underwritten preapproval should only take about 3-5 days with their local workload. 60 days is nuts!
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO