Home Buying in 23226>Question Details

Bonnie Zimmer,  in Virginia

How long does it typically take to close on a house with an FHA loan?

Asked by Bonnie Zimmer, Virginia Tue Apr 9, 2013

Recently applied for FHA and wondering how long until I can call the house my home!

Help the community by answering this question:


If you arre talking about the entire process from loan application to final approval and closing, there are dozens of variables. So it’s hard to assign an exact length of time to the process. But let’s try anyway.

Much will depend on the house-hunting process. Some borrowers apply for an FHA loan before they have found a house, meaning they get pre-approved first and then start shopping for a home. This is a wise strategy, actually.

For more information : http://fhamortgageinfo.com/
2 votes Thank Flag Link Wed Jul 22, 2015
The "typical time" is really determined by the lender you choose. I have a lender with whom I work on a regular basis that can close an FHA loan in as little as 8 days. He prefers I give him at least 14 to allow for inspections and appraisal. Sometimes a fast closing can make the difference between getting the house you want or losing out to a better offer. I was able to get one particular client his "dream home" because the seller wanted a fast closing. In a multiple offer situation, his offer was not the highest, but it got the seller out faster, saving them more money in the long run. This particular deal was done from start to finish in less than 2 weeks. Choosing the right lender for your particular needs makes a big difference. Not all lenders are created equal and sometimes (more often than not) bigger is not always better. Contact me if you would like more information. 800-225-5947 ext 5135
1 vote Thank Flag Link Thu Apr 11, 2013
The typical processing time for FHA loans is 30-45 days. Your Virginia Purchase Agreement should specify your closing date. :) Your Realtor and Lender should also be helpful to keep you up to date on the progress of your home purchase. Congrats and good luck!
1 vote Thank Flag Link Wed Apr 10, 2013
It depends how long it takes the lender to get the loan ready. The faster you answer their questions and get them documents, the faster it takes. A lender gathers info until they think they have enough and then they submit it to an underwriter for approval. 45-60 days is average.
1 vote Thank Flag Link Tue Apr 9, 2013
If all the paper work is turned in and the appraisal is done and the homeowners insurance is in place how long will it take for FHA to give the ok to close??
0 votes Thank Flag Link Wed May 18, 2016
I'm seeing 45-60 days, just make sure the inspections and appraisal are ordered in a timely fashion. Secure those dates asap. Don't leave it to anyone. You are buying the house and you need to stay in the mix. Ask questions and get projected deadlines and ask many more questions ,if a deadline isn't met.
0 votes Thank Flag Link Sun Apr 3, 2016
I was wondering if you can close a offer in 5 days .
0 votes Thank Flag Link Wed Sep 16, 2015
not likely, unless it's cash, there are no inspections, no contract contingencie and all the title work has been completed ahead of time, which is very unusual.
it is possible but why rush? this is a lot of money and rushing creates mistakes that could be very costly. 14 days for cash deals is more on target.
Flag Thu Sep 17, 2015
I was wondering if you can close a offer in 5 days .
0 votes Thank Flag Link Wed Sep 16, 2015
An FHA loan typically takes 6 weeks to close.
0 votes Thank Flag Link Wed Mar 4, 2015
Typically 30-45 days. If the buyers are using grant funds it can be up to 60 days. One of the biggest reasons it takes longer than usual is if the buyer is slow to produce documents for their lender. I would highly recommend calling the lender weekly to stay on top of the information.
0 votes Thank Flag Link Mon Dec 29, 2014
Typically the same amount of time as any other mortgage 5-7 weeks. Speak with your Realtor and or loan originator. There's a close date listed on your purchase contract, that's when you should be able to call the home your own.
0 votes Thank Flag Link Wed Apr 10, 2013
Other areas may differ but if you are responsible with your paperwork as well as the process of dual inspections, no violations, etc. it could be 45 days. Many of these loans in my area may take twice as long,
0 votes Thank Flag Link Wed Apr 10, 2013
In my experience, approximately 45 days more or less. A lender with in-house approval makes it quicker.
0 votes Thank Flag Link Wed Apr 10, 2013
30 to 45 days, 60 if its a credit union
0 votes Thank Flag Link Tue Apr 9, 2013
Bonnie, you can close on an FHA loan within 45-60 days. Most lenders can meet the 45 day timeline.

If I can assist you in any way with a home purchase, feel free to give me a call.
0 votes Thank Flag Link Tue Apr 9, 2013
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