Are mortgage loan officers and realty agents—even individual home sellers—continuing to influence or attempting to interfere with appraisals despite new federal rules that ban such behavior? Ask appraisers and many will tell you: It's ... Online mortgage applications are quick. An online application form takes about four minutes of your time filling it up. Approval can then be given within 24 hours. This is a far cry from the several business days it usually takes for traditional mortgage applications to be approved. In this regard, online mortgages are less time-consuming and even initially paper-free.