How long does it take to close a loan?
Hi, this is my first time applying for a mortgage and I want to know how long it takes to close on the loan. The house we are buying has plenty of offers and closing on the loan soonest would give us an advantage. We have submitted all documents needed and are hoping to get things done in 30 days, would that be realistic? by Clare547 from Phoenix, Arizona. Dec 7th 2022
John Burke (jburke)
#27 ranked lender in Texas - 321 contributions
Hi Clare547, You should be able to close in 21-30 days. | John Burke | Senior Mortgage Banker | Lending in ALL 50 states |Stride Bank | jburke@stridebank.com | (877)228-9069 | NMLS# 787231 |
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
The typical answer would be around 30-days without any rushes and without anything going wrong. Any one loan can potentially be put on a rush and put through faster, but when people and real estate agents ask me this question, I usually say that asking for less than 30-days is asking from a delayed closing. With that said, I also suggest avoiding people who make promises of quick closes. Way too many variables... I lend in WI, MN, IA, ND, SD. Find me at Wi-MortgageBroker.com/quick-quote | Cambria Mortgage | NMLS 274132
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