2007-01-08 07:00:08 · 12 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
About a week for paperwork to be assessed and then accepted or declined. It takes a week or so longer to get the money sorted if it's accepted.
2007-01-08 07:04:46 · answer #1 · answered by flyingconfused 5 · 1⤊ 1⤋
It can take 4 days or 4 months. Good paperwork, no surprises and willing parties lean toward the quicker closing. Bad credit, missing statements, different numbers tend to stretch the deal. Need help call 516 535 5800 ext 239. Mortgage Consultant.
2007-01-08 15:23:10 · answer #2 · answered by Jeff 1 · 0⤊ 1⤋
Depends what type of loan. If it is an A-paper loan (fannie mae / Freddie Mac) they can take 2-3 weeks.
If it is a subprime loan, I have had borrowers signing loan docs in 3-4 business days after I initially ran credit. (rare) Typically its 14-21 days for subprime. They just happened to already have the appraisal done exc...
Also Home Equity lines are pretty quick and easy to apply. Usually 5-10 business days.
2007-01-08 15:22:28 · answer #3 · answered by ondreforsure 3 · 0⤊ 1⤋
Anything from 4 weeks to 6 months. It depends on your financial position, the survey on the property you're buying and any other points the surveyor might raise. Seek out a financial adviser who doesn't charge, but gets commission from the mortgage companies. They do the hard work and make it easy for you
2007-01-08 15:08:58 · answer #4 · answered by michael k 2 · 1⤊ 1⤋
Depends on your credit, your down payment and how fast your income can be verified.
Start to finish , mine took about 60 days but I was holding out for the lowest possible interest rate , getting quotes from several lenders - got a 5 3/8% on a 30 year fixed.
ps: getting the prequalification is fast and speeds things up when you find the property you want.
2007-01-08 15:10:02 · answer #5 · answered by kate 7 · 0⤊ 1⤋
We got an AIP (agreed in principal) on the same day that we saw the mortgage broker and moved into our house 2 1/2 months later.
we'r ein england, don't know about anywhere else.
2007-01-08 15:16:58 · answer #6 · answered by lola 5 · 0⤊ 1⤋
I have closed loans in less than a week, and my oldest one was 16 months old (it was new construction property).
there are WAY too many factos that can come into play.
if you are a typical middle aged, middle class American, in a typical mortgage loan transaction, it should take 3-4 weeks tops.
2007-01-08 22:41:07 · answer #7 · answered by djdraven99 2 · 0⤊ 1⤋
Depends on your credit, but you can usually get approved in about 2-3 days, but it takes about 30 days to get the loan closed.
2007-01-08 15:34:27 · answer #8 · answered by ramman 4 · 0⤊ 1⤋
About 2 Foot Four inches!
2007-01-08 15:02:56 · answer #9 · answered by Stevie G 2 · 0⤊ 1⤋
From start to finish at buying my house took 3 months
2007-01-08 15:13:06 · answer #10 · answered by Anonymous · 0⤊ 1⤋