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Average closing time

Regular Contributor

Average closing time

Hey everyone,  we are in the process of a mortgage.   I'm looking for average length of closing time.  From the time of application, to pre-approval, and clear to close. Smiley Happy

I know mmmv...lol 

 

Thanks!

FICO EQ: 633 8/15/12
lender pulled 11/3/12 EQ 661 TU 650 EX598
credit Karma 674 credit sesame: 663
B/K discharged 2/2006......closed 8/2012

May your limits be high and your balances low!

2 REPLIES
Senior Contributor

Re: Average closing time

I don't think you can count an average from preapproval very well.  You get preapproved before you go shopping for a house.  Who knows how long it will take you to find something you like and want to put an offer in on.  Once you have a ratified contract, 30 days to close is fairly standard.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Valued Contributor

Re: Average closing time

Closing is usually at the end of the month so between 30 and 45 days
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