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Mortgage approval & closing

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RainyDay
LIF Adult

Member since 6/15

3990 total posts

Name:

Mortgage approval & closing

I cant remember from the last time but how much time was there btwn getting mortgage approval and closing?

Posted 6/25/19 8:36 AM
 
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chilltocam
LIF Adult

Member since 11/11

9141 total posts

Name:

Mortgage approval & closing

What exactly do you mean by "mortgage approval"? I got my mortgage approval almost right away, but with contingencies - appraisal, title, etc. But from when I was "cleared to close" it was a couple of weeks, only because the sellers weren't ready - otherwise it probably could have been a couple of days to a week to close from the cleared to close date

Posted 6/25/19 10:29 AM
 

RainyDay
LIF Adult

Member since 6/15

3990 total posts

Name:

Mortgage approval & closing

I guess I meant clear to close. We were just advised they are waiting for something from the title company in order for final approval.

Posted 6/25/19 11:44 AM
 

chilltocam
LIF Adult

Member since 11/11

9141 total posts

Name:

Re: Mortgage approval & closing

Posted by RainyDay

I guess I meant clear to close. We were just advised they are waiting for something from the title company in order for final approval.



Once you are cleared to close, it's just a matter of everyone agreeing to a date. So, it could be a couple of days or more, depending on scheduling issues. Also, I guess if there is anything the seller needs to do (in my case, they had to have the pool opened and running before the closing date), that might cause some delay as well

Message edited 6/25/2019 12:29:11 PM.

Posted 6/25/19 12:27 PM
 

LSP2005
Bunny kisses are so cute!

Member since 5/05

19458 total posts

Name:
L

Re: Mortgage approval & closing

We bought five years ago, but once we found the house it was one month from offer to close.

Posted 6/26/19 1:22 PM
 

mommy2be716
LIF Adult

Member since 1/16

2921 total posts

Name:

Mortgage approval & closing

For our refinance recently, which is slightly diff, we got our approval like 4 or 5 business days before closing

Posted 6/26/19 9:46 PM
 

Christine Braun - Signature Premier Properties
LIFamilies Business

Member since 2/11

3992 total posts

Name:

Re: Mortgage approval & closing

Usually banks want to close fairly quickly once the clear to close is given, but there are TRID requirements (3 business days must elapse). It's usually about a week.

But every situation is different - depends on the parties' preferences, attorney availability, etc.

Posted 6/27/19 12:43 PM
 
 

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