Home Buying in 33137>Question Details

Silvana, Home Buyer in Mechanicsville, VA

hey, quick question. Is it normal for a loan process to take 4 months from start to finish?

Asked by Silvana, Mechanicsville, VA Thu May 5, 2011

Help the community by answering this question:


Hi Silvana,
When you say loan process I am not sure what you mean. If it is the approval process then it takes about a week.

If you are purchasing a regular sale with a loan it should close within 30-60 days.

If you waiting for a short sale to close with a loan it is theh shrot sale that is the delay, so it can take up to a year.

So, nothing other than a short sale should take 4 months.

Hope that helps!
Beth Jenkins
South Florida Brokers 786-374-4778
Web Reference: http://www.arealtyteam.com
3 votes Thank Flag Link Thu May 5, 2011
Good morning, Silvana

For a convention loan, the process from application to closing should be approximately 30 to 45 days. An FHA or VA loan could take a bit longer, up to 60 days. But if you are getting something like an FHA 203K loan, it could very possibly take longer. Also, if there are documents missing (proof of insurance from a condo association, for instance) this will delay the process.

If you would like to talk to a loan consultant for more detailed advice as to your specific situation, I highly recommend David Caporini at CB Home Loans. His phone number is 305-803-5845 and his email is david.caporini@mortgagefamily.com. No obligation, no cost. Just let him know that I referred you.

Good luck and congratulations on your purchase!
1 vote Thank Flag Link Thu May 5, 2011
No, not at all. The only ones that take that long are short sales. A conventional loan is normally 30 days and FHA or VA loan 45 days. A USDA loan may take 60 days.

Tammy Hayes, Realtor
Re/Max Palm Realty
0 votes Thank Flag Link Thu Dec 19, 2013
Sounds like a delay tactic
0 votes Thank Flag Link Thu Dec 19, 2013

The answer is no. Depending on which type of loan you are getting. FHA 203K take the longest because repairs need to be completed before closing. You should request from your lender more info about why they are taking so long to close. There may be other issues regarding title, appraisal, or inspections.

If you need any further assistance, feel free to get in touch with me 305-298-0349 or via email msanchez_realtor@yahoo.com

All my best,
Best regards,
Matt Sanchez
Broker Associate
Licensed in Florida
Cell: (305) 298-0349
Fax: (800) 898-5970
Search thousands of homes. Go to:
Email: msanchez_realtor@yahoo.com
"Earning your Trust, then your Business."
0 votes Thank Flag Link Mon Aug 22, 2011
A conventional loan should close in less than 30 days. If there are special circumstances, it could take longer but 4 months is beyond all reasonable expectations.

I have a list of lenders who work with all types of clients. If you need a referall, please call me:

Diana Kryszak
Michael Saunders & Company
St Armands Circle
Sarasota Florida
0 votes Thank Flag Link Sun Aug 14, 2011
This is not good because the seller may not want to extend the contract any longer. Find out with your mortgage what it is they need to get the ball rolling right away.
0 votes Thank Flag Link Thu May 5, 2011
No, not in this day and age.....

Chuck Allford
Remax Anchor Realty
Cell 941-830-1144
Office 941-697-9210
Fax 866-600-6741

Heal the past, live the present and dream the future..........Enjoy life!

Check out our website
0 votes Thank Flag Link Thu May 5, 2011
Tx for the info. We gave the bank everything they asked for almost the same day they asked for it. So no delays because of that. We asked for a week extension, because we didn't know that it will take another 30 days. So now hopefully the sellers will want to wait for us- another 30 days...at least. I guess i am frustrated that we find out a week before closing that the gov will take another 30+ days. If we would have known before how long they usually take we would have negoiciated the extension differently.
0 votes Thank Flag Link Thu May 5, 2011
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