How Long Does It Take To Close A Loan?
Posted on Oct 26 by Justin McHoodOne of the most common questions that I get from people regarding the loan process is “how long will it take to get my loan closed?”
My usual answer is “around 30 days, but in today’s world it could be slightly longer”.
And now I know that I am slightly slower than the next guy.
How long does it take to get a FHA loan closed?
According to the loan officers at Academy:
Ten Day Close Guarantee
Are you tired of waiting on the bank to move into your house?
More and more, banks and brokers are taking as long as 45 days to complete your loan transaction.
This does not happen at Academy Mortgage.
Our Guarantee: If we do not close your loan in 10 business days, we will credit you $100 for every additional day that we do not have your loan documents at title.
Our main goal is to make the homebuying process as pleasant as possible for our client, and our team of experienced mortgage professionals have the tools to make it happen.
So if your loan officer is like me and telling you that it will take 30 (or so) days to get your loan closed — just tell him that there is at least one team of loan officers who are promising to get loans closed in 10 days or less.
And see what he says!
One Response to “How Long Does It Take To Close A Loan?”
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Top real estate posts of the day says:
October 27, 2009 at 7:25 am
[...] 2)How long does it take to close a loan? – According to this post, the guys at Academy Mortgage are closing FHA loans in 10 days, guaranteed. I am not sure this one passes the smell test. [...]
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