How long does it take to get get qualified for a first time home buyer loan?

30 minThis is what I need from you:2 last tax returns2 last paycheck stubs2 last bank statements.

You can fax or email. With that can let you know how much you qualify, int. rate & payment.

Retail bank maybe 1-2 days, wholesale can get it done in few seconds.

With a fairly complete application and proper income documentation, it really only takes about 30 minutes.

A lender simply needs to obtain a full application for a "pre-qualify" - so 10 minutes. For a full pre-approval, the lender also needs to see your supporting documents too. So it all depends on you. Complete an application and submit your documents and get a real full pre-approval in 30 minutes. The difference between a pre-qualify and pre-approval is a pre-qualify is that based simply on what you told us, and it looks good. A pre-approval is based on what you told us AND what we verified with your pay stubs, bank statements, W2's, etc.

As others are saying.. 10-30 minutes.. if you want to know for sure, then try contacting a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347