cancel
Showing results for 
Search instead for 
Did you mean: 

How long between final approval and actual closing?

New Member

How long between final approval and actual closing?

I am getting frustrated with our lender but since I don't have a lot of experience in mortgage approval, this may be par for the course.

 

We got our commitment letter 6/11. There were approximately 20 "conditions". I was able to get everything back to them within 24 hours. Yesterday, I got a 2nd commitment letter with 10 more conditions - sent everything back within 4 hours. We are scheduled to close 6/29 (next Friday). I feel like we are in limbo until we get final approval and when I speak with my LO, I feel like she is frustrated with me. But my questions are simple. My question right now is how long between final approval and actual close? Does it have to be 7 days or can it be the day before? Everything else is in place for our move except our loan Woman Happy.

 

Any thoughts?

Message 1 of 3
2 REPLIES
Regular Contributor

Re: How long between final approval and actual closing?

We got our clear to close at 2pm and was sitting at the closing table at 5:30pm on the same day..

I'm not really sure this is the normal though.. and it depends on when the title company (or wherever you are closing at) has a time slot. I do also think it may vary from state to state..

Message 2 of 3
Valued Member

Re: How long between final approval and actual closing?

I had final approval on tuesday, and by wednesday i was signing final loan docs and title papers. Its all depended on how fast the closing department can get your file together for the title company.

EX: 651 - Lender Pull (04/30/12) EX: 678 (credit app 7/12)
EQ: 625 - Lender Pull (04/30/12) EQ: 639 (myFico) (7/12)
TU(04): 631 - Lender Pull (04/30/12) TU: 663 (myfico) (7/12)
Message 3 of 3