Depending upon the time of month and the type of loan, underwriting a file can take up to 72 hours, but most of the time 36-48 hours. Once the file is underwritten they will probably call you with some additional documentation they will need (conditions) and it could take another 24 hours to get the final approval once you have given them the final conditions. Once you are "clear to close" it takes the closing department between 4-24 hours to prepare docs and get them to the title company, who wants another 24 hours to work them up. Since the lender has the money, they control the closing, although the agent would like to think they do. Call your loan officer and and ask when you should schedule your closing and get that info to your agent who will make the arrangements with your title company or closing attorney. Don't let your agent schedule the closing without you confirming with your lender that it is doable or your just wasting your time. Lenders get very frustrated with title companies and agents for not consulting them first about when the docs will be ready.
by jamesnbarnes - 11 hours ago
Usually it takes about 45-90 days to close on a deal. This has to do with all the necessary paperwork and inspections and such that need to be done and disclosed on the property before its finalized. Sometimes it goes quicker, but that depends on how fast everything is pushed thru.
by jess_offramp - 11 hours ago
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