Mortgage Application Process?

[CarolAnnC]

With so many folks posting here about selling and buying new homes, I was wondering how long approximately the process takes to apply for a new mortgage?

I have been in my current home for 17 years so I am out of touch with the timeline process on mortgages! Thanx in advance for any replies!

 

[elgerber]

I am a loan processor and I know ours are really easy. Most of the time, our loan officers don't even see the borrowers until closing. The forms they need to sign are faxed or e-mailed, and they fax or mail in their credit docs. Most of our loans close in about 3 weeks, although I have slammed a few through in 10 -14 days.

Erika

 

[dvcfamily41801]

I am a settlement clerk and most purchase transactions from sale to settlement are averaging 45 days and refinances 30 days from application to settlement.

 

[believe]

I think our's took a little over 2 weeks. If you do an adjustment, I can't think of the official term, but it is where you aren't changing the dollar amount just the interest rate and length of mortgage it takes 24hrs.

 

[Cindy B]

Ours took 19 days!

 

[lil mermaid]

The pre-approval process took about 2 days. Once we found a house that we wanted to buy, the actual process was about 14 more days (after inspections, appraisal, etc.) It probably would have been faster, but we took a couple days to go back and forth between the two lenders we were considering to see who would give us the best deal.