Question : How long does it take for a home loan to go through?
How long does it take for a home loan to go through once you have been preapproved and found the house and signed the contract? They got the closing date scheduled in a month i just dont want to start packing untill I know everythings a donr deal.
- asked by shygirl
All Answers:
Answer #1
Unless you change your mind, the closing should beon time. Most real estate transaction close withina month.
- answered by Dustin
Answer #2
It depends on the lender and you. If everythingis in order and remains so, it should take atleast 10 days. Any problems come around will pushit passed the scheduled close date. If you wentout and bought a car before the paperwork isprocessed, you would've altered your creditpicture, and they would have to run thepre-approval process all over again. Also, if theloan officer is slow in processing your paperworkthen you may see delays because of it. Toexpedite the process, keep in touch with the loanofficer to make sure everything is in order. Andhold off on big purchases until you have your nameon the mailbox of your new home.Good luck
- answered by somatek
Answer #3
That depends on the underwriters at your lenders.I've had real good credit clients go as fast astwo weeks and if there are a number of things onyour report that need to be expl;ained or clearedit could go as long as seven weeks. It all dependson your credit report and the underwriters.Askyour agent and loan officer.
- answered by ogrendle
Answer #4
3 weeks
- answered by Travel Expert
Answer #5
A month is about right. If you already gotpreapproved and supplied them with everything theyasked (paycheck stubs, bank statements, etc), itsfairly easy. Make sure they get a copy of thepurchase & sale agreement immediately and theescrow/title company gives them acopy of the titlereport. Then just ask your loan personif the timeline is on track. :-)
- answered by Amanda H
Answer #6
30 days max
- answered by frankie b
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