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What is the average time frame between loan application and funding?

by harris_lisa105 from North Las Vegas, Nevada. Mar 7th 2016 Reply


Brad Henderson (bradthelender)
#29 ranked lender in Nevada - 18 contributions

3 to 4 weeks on average.

Mar 7th 2016
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Nathan Kessler (nathan.kessler@guaranteedrate.com)
#45 ranked lender in Nevada - 69 contributions

Typically it takes about 30 days.

Mar 7th 2016
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Justin Murray (JustinMurray)
#103 ranked lender in Illinois - 172 contributions

It depends on if it is a refinance or a purchase. We are currently under 30 days for both.

Mar 7th 2016
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Sherree Montero (TheMortgageMaker)
#55 ranked lender in Nevada - 2 contributions

Hi Lisa, 21 days to 30 days. The loan process runs pretty smooth if we can get 100% of the requested documentation from the borrower. Are you looking to purchase or refinance?

Mar 7th 2016
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Jesse Stroup (jessestroup)
#196 ranked lender in California - 589 contributions

30 days from submitting your paperwork to the lender.

Mar 8th 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,788 contributions

If you're purchasing, then you get pre approved first.. and once you find a home and get an accepted contract, then Typically, it can be 30 days or less from there. Understand there's a lot of things can happen during the loan process that could potentially push back your closing date for days or even weeks.. and most of those things will be out of your control.. so be prepared for the worst. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Mar 8th 2016
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,439 contributions

Realistically, most lender will tell you about 30-days. I find that interesting because according to Ellie Mae, which provides the software for about 50% of mortgage lenders, they say the average time is 50-days based on all the actual loans that go through their system. Of course some are faster and some are slower, but if you are a clean file with no issues, 30-days is very realistic.

Mar 8th 2016
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