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how long is the typical loan process?

by shellbell833 from Mason, Tennessee. Dec 6th 2017 Reply


Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,232 contributions

The standard goal for most mortgages is 30 days or less from receipt of a complete application with all requested supporting documentation. Some types of loans can take longer, and some applications get approved and close in as little as about 3 weeks. It just depends on the lender and the borrowers details.

Dec 6th 2017
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Nancy J Releford (nancyreleford)
#4 ranked lender in Tennessee - 221 contributions

Usually 30 days or less. Lenders I use can underwrite a file within 48 hrs. What takes the longest is the apparaisal, which can take anywhere from 1wk to 3 wks. depending on the area & how difficult it is to find comparable son property.

Dec 6th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,414 contributions

Typically, most loans will close between 3 to 4 weeks.. but there are countless things that could pop up that might delay the process,, some might be in the lenders control, but most delays are caused by borrower delay's, property issues, or waiting on an appraisal. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Dec 8th 2017
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Bob Betel (bob@allstarhomemortgage.com)
#135 ranked lender in Illinois - 3 contributions

While the standard is 30 days, we have closed loans in as little as 8 days. It depends on the appraiser, title company and the buyer and how fast they get the information to the lender. I can be reached at 865-561-5007, should you have any questions.

Jan 27th 2018
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