HOW LONG DOES IT TAKE TO CLOSE?
If you've found a #home already, it will probably take 40-50 days to #close the #mortgage, based on national averages.
Work with me and stay diligent on your end? We can cut that down to 3 weeks!! Keep in mind that your situation can vary widely depending on your situation. Speed things up by preparing your financials in advance of writing an offer - chances are, if you’re working with me I’ve already got most of what I need when I #preapproved you before you wrote that offer.
Be sure to ask your #lender about current #appraisal turn times based on recent #history.
Be careful not to overpromise closing speed to your seller. Your purchase agreement will state a closing date. You are expected to stick to it, or potentially lose the house and your earnest money.
Above all, have an honest conversation with your loan officer about how long he or she believes it will take you to close. Ask for a realistic or even pessimistic assessment, factoring in underwriting, processing, the appraisal, condition review, and closing/funding.
It's better to guess "long" than to have overly optimistic time frames you can't reasonably hit.
15 Days 'til Christmas 🎄
When you are getting ready to start your home search it is incredibly important to have a pre-approval letter 📄 in hand. This letter will serve as proof that you are in a financial position to purchase the home 🏡 you want to write an offer on. Getting this letter will help set you up for success.
You are one day closer to Christmas!