Mortgage Loans

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jnkp2001
Posts: 132
Registered: ‎01-04-2012

Average closing time

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‎11-13-2012 12:46 AM

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. :smileyhappy:

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!

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Walt_K
Posts: 2,619
Registered: ‎11-02-2009

Re: Average closing time

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‎11-13-2012 06:22 AM

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 04 728 (lender pull) (01/12/12), EX 742 (lender pull) (01/12/12)
Goal Score: 720

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beb86
Posts: 1,096
Registered: ‎10-31-2011

Re: Average closing time

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‎11-13-2012 08:19 AM

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