Question by Lepke: When applying for refinancing for a mortgage how long does the process usually take?
From the time the formal application is handed in to the loan officer of the bank (it’s a really small regional bank with only 3 branches), how long does the entire process take to get to closing. We had the formal appraisal already (about 3 weeks ago) and were wondering when we can expect to close? By the way, we have excellent FICO scores, so that’s not an issue. Just wondering how long the process usually takes.
Answer by Deliah
It could take serveral weeks before you can close the loan. Do you have an agent working for you? If so have that person press for a closing date.
When you/your agent ask the financial institution what do they say?
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