how long does it take for a mortgage to close

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It typically takes four to six weeks to close on a mortgage. This timeframe includes preapproval, appraisal approval and funding time.

One recent study found that closing times are getting longer-on average it now takes 50 days. And while that may seem like an eternity to eager buyers or sellers, there’s good reason this doesn’t happen lickety-split. For one, buyers who require mortgages must finish the loan process and property appraisal.

Read: How long does it take get a loan approval? Keep in mind that a mortgage timeline will vary from one buyer to the next. There are many variables and obstacles that can pop up along the way, so there’s no one size that fits all.

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For the first three months of 2019, the average conventional purchase loan closed in 47 days, compared to 49 days for VA loans, according to Ellie Mae Let’s review five key factors that could affect the timeline of a VA loan purchase. Knowing the details of the VA loan process is important for you and your customers.

Some banks will literally take 90 days to close a mortgage because they’re just really thorough (aka slow and overly prudent/conservative), while others will strive to close your loan in 2-3 weeks, if not sooner.

Real estate agent and Realtor Matt Leighton sits down with Sean Glennon of The Glennon Group to discuss the mortgage timeline and how long each type of mortgage takes to close when purchasing a house.

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Once you are clear to close, you’ve entered the final stretch. "On average, you can expect a 24- to 72-hour turnaround to be cleared to close," Baez says.

How Long Does It Take to Close on a House? | Mortgage. – real estate agent and realtor matt leighton sits down with Sean Glennon of The Glennon Group to discuss the mortgage timeline and how long each type of mortgage takes to close when purchasing a house.

Ellie Mae, Pleasanton, Pleasanton, Calif., said the average time to close a loan nationally decreased in February to 42 days, from 44 in January.