Subscribe to Answers
30 to 45 days.
3 weeks for a standard loan with no curveballs. Just completed one with a ton of curveballs in 3 weeks.
Right now our biggest challenge is geographical --- in rural areas or obscure properties, getting an appraiser to accept an order and get it back in a timely manner
Fred Griffin presently...
Although some are simply pushed out to 60 days to "be on the safe side" I have two in the works that are going to close in 37 days and 45 days respectively. (The 37 day was a 32 day but a bad well test has bumped it for a well treatment to come back clean). It seems a pro-active loan officer and buyer can get many ducks in a row and be ready for information requests. A quick response cuts off days!
It comes down to this, pro-active buyers, pro-active loan officers and good processors.
Steve - The last sale I had could have probably closed in about 25 days, but the sellers had extended the COE from the beginning in order to provide themselves enough time to move out.
30 to 45 days.
Virtually all of my financed sales whether conventional, VA, FHA, etc. have been closing within 35 days.
30 -45 days avg
Depends what is the issue to get A loan: credit, documentation, ratios, etc? I would not promise any fast closings in that case, if ever.
30 to 40 days in my area.
25 to 35 days
From the time the loan officer gets the PA about 3 weeks tops.
All of mine are A Paper and they take 27 to 35 days. I do a lot with Bank of the West and they are great at hitting the 30 day mark.
Pardon my ignorance, but what is an "A-paper" ?
The last time I did a conventional it took 5 weeks, but since 2010 we have been keeping all of the mortgages for our investments "in house" and they take an hour for approval, and as soon as the title work is done we can close.
The quickest my loan officer has done in the past was 11 days but usually it is 3 to 5 weeks. It just seems like forever.
It is now taking 30-45 days.
"hard money" has always had a negative connotation..... to my peeps, it's another option for many small builders to get in and out and make a buck....
Steve less than 30 days in most cases. Always on time with the lenders we use - excellent lenders.
Recently had a VA loan close in 27 days. Conventional taking 25-30; have not seen any delays.
33 days on last one.