How long does it take to get a home loan?

The Barr Team First Time Homebuyer Info, Info for Home Buyers, Info on Home Financing, Info on Real Estate Transactions Leave a Comment

Here Henry explains how long it could take to get a home loan completed in the current market…
Hi there, I am Henry Barr with the Barr Team in Frisco, Colorado at REMAX Properties of the Summit. Some people have asked “How long do loans take nowadays?”.  Well that is an interesting question.  They’re taking some where between 30 and 45 days but I think you need to probably rely on 45 days. The loan process, at the end of last year (2016), was taking actually closer to 60 days in most cases just because of the time frame with appraisers and with other vendors necessary to put all the information together for closing the loan. But I think that going into the first of the year (2017), at this point, that 30-45 days is a realistic number and leaning closer to the 45 days as the appraisers are not taking quite as long as they did before. So count on 45 days.