FAQs

How long does the mortgage application and closing process typically take?

On average, the mortgage application and closing process takes about 30 days, though it can sometimes extend up to 60 days depending on your unique situation.

While every loan is slightly different, here is a general timeline of what to expect after you submit your application:

• The Appraisal: Your property appraisal is usually ordered within the first 1 to 2 weeks of the process. Once ordered, it typically takes about 7 to 10 days for the appraiser to complete their report.
• Underwriting: Reviewing your loan can take anywhere from a few days to a couple of weeks. The exact time depends on the complexity of your financial profile and whether the underwriter needs any additional documentation to verify your information.
• Final Approval & Closing: After the appraisal is finalized, there is typically a 15- to 30-day window to wrap up underwriting, issue your final approval, and schedule your official closing appointment.

Tip: How to prevent delays

The number one way to keep your loan moving quickly is to respond to any requests for additional documentation (such as updated pay stubs or bank statements) as soon as possible. Delays in receiving documents will pause the underwriting process and push back your closing date!