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what is the average time for closing, from approval to move in?

by callmereed_myers1... from Madison, Wisconsin. Sep 16th 2013 Reply


Adrielle Edwards (AdrielleEdwards)
#907 ranked lender in California - 96 contributions

The general time frame is anywhere from 21 to 45 days. This depends on a variety of factors, however, such as loan type and whether the lender has in house processing and underwiting, etc. Contact a few lenders in Madison and ask what their turn times are.

Sep 16th 2013
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,588 contributions

ideally it's 30 to 45 days, however there are so many factors involved, it's hard to know without knowing all the details of you and your specific property your looking to purchase.. USDA for example will be closer to 45 to 60 days.. 203(K) rehab loans can take 90 days.. etc, etc, etc.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. 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

Sep 16th 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

About 30 to 45 days.

Sep 16th 2013
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Brad Tindal (Brad.Tindal)
#44 ranked lender in Wisconsin - 9 contributions

Typically 30 days

Sep 16th 2013
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Rob Miller (LenderTimes)
#41 ranked lender in Wisconsin - 13 contributions

30 days normal turn times...But with right lender that can be pushed to 21 days....I would recommend calling a local lender(in Madison)..I am One...you can reach me at 608.227.2002. I can tell you what you need to get set to get a quick closing.Rob Miller

Sep 16th 2013
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Closing time all depends on several factors, from the loan type to the borrower's involvement in getting documents, to the underwriting. Working with a lender who has its own underwriting and servicing departments, rather than one that farms it all out, can help speed up the process. 30 days is a good number to keep in mind. One last point: getting pre-approved early in the process will help. Good luck!

Sep 16th 2013
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Depending on the loan program it can vary from 30 to 45 days from Loan Application to Closing. Conventional loans without mortgage insurance usually take 30 days & all other loans take 45 days execpt Renovation loans will take a bit longer usually 45-60 days. Please contact me if you would like to discuss your situation further. Sincerely, Mandy Fritsche, Prospect Mortgage, Mortgage Loan Officer, NMLS# 557211262-327-5700 Cell, 877-868-9198 Fax, mandy.fritsche@prospectmtg.comwww.MyProspectMortgage.com/mfritsche

Sep 16th 2013
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Ernesto Marez (Ernesto)
#68 ranked lender in Maryland - 137 contributions

the avergae time for purchase loans is 30days, however it can be RUSHED and closed in 10 days minimum.emarez@thefederalsavingsbank.com

Sep 16th 2013
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

If you would like a stress free closing and time to work on any issues that may come up give yourself at least 30 days. Our average for purchases are right around 21 days. It can be done even sooner than that on a rush, but you never know what can come up or what other paperwork might be required or if there will be appraisal or inspection issues to deal with. A lot of it will depend on you and how quickly you can provide the required documents needed by your loan officer. Best wishes,

Sep 16th 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,875 contributions

From the day I have on my desk, a fully signed purchase agreement, application, and all supporting documentation (W2's, bank statements, pay stubs, etc.), we are currently running about three weeks (without rushing). I'd say that is pretty average for most lenders. Some loans take a bit longer, like USDA loans and FHA 203k loans, which I would say average about 5 weeks. Delays in getting the signed purchase agreement, and getting supporting documents is generally what adds to these times, so when a lender asks you for something, the faster you provide it, the faster the application goes through the system. www.JoeMetzler.com

Sep 17th 2013
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