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How Many Agonizing Days to Close?

By
Real Estate Agent with Keller Williams Realty

home closingsRealtor Magazine recently released data on the average amount of time a buyer/seller should
expect for closing on a home according to the Origination Insight Report from Ellie Mae. Findings of the report, as of June 16, reveal the average days to closing (from origination to the actual closing) is 45 days. For buyers utilizing a VA Loan for financing, the average time to close increased one day, with the time span reported to be 48 days to close in April, but increasing to 49 days in May. 

 

Also included in the report were average credit scores for buyers obtaining mortgage loans. Overall, borrowers in the mortgage market showed 82% of applicants for a conventional loan had a credit score over 700, while 39% of borrowers with FHA loans had credit scores higher than 700.

 

If you're interested in finding out your credit score, and how it can affect your chances of obtaining a home loan, it's of course advisable to consult a trusted mortgage lender. Most offer advice on rebuilding bad credit, how much house you can afford on your budget at current rates, and even if now is the time to 'move up' from your current home.

 

The Shields Team at Keller Williams has many years of experience in defining credit scores as they relate to home buying, and can advise your best move,  taking into consideration your current position. Call Wes Shields today to speak with him about the best strategy to get you into your new home! Our office number is (423) 433-6517, or come by for an in-person consultation at our office within Keller Williams Realty, 1033 Hamilton Place, Johnson City. 

 

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Posted by
Wes Shields
The Shields Team
Your life. Your goals. Our priority.
 
Keller Williams Realty
1033 Hamilton Place
Johnson City, TN 37604

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