The Mortgage Brothers Show

Up to date news, tips, and advice, so you can make real estate decisions with confidence.

How Fast is Too Fast to Close a Mortgage Loan to Purchase a House?

10-05-2020About MortgagesEddie Knoell

In this week’s episode, we went over a common question we get asked all the time: How fast can we close on your mortgage loan for a home purchase?

We’ve heard every variation of this: I need it real quick, I heard someone online can do it in a week, I need to buy the house right now.

And we’re not surprised.

Buying a house is more often than not one of the biggest purchases you will ever make in your life and it’s perfectly natural to be excited. But we want to make sure that you understand a realistic timeline of these things so you can make sure you can get the best loan you possibly can.

Timing, timing, timing

The time frame of closing is not the sexiest of topics, but it’s an important one.

When buying a house, both the buyer and the seller have expectations of how things are going to go. They need a house. They have to move in. Or the seller needs to move or needs the money.

We would say, on average, you should expect to close on a mortgage loan to purchase a house in about 25-30 days or less. The quickest we ever closed was in 12 days, but that shouldn’t be expected. That was a rare case where all the stars really aligned. Normally, if you hear someone telling you they can close in 10 or 15 days, guaranteed, it’s probably too good to be true. The people who are out there marketing to you and telling you they can close in ridiculous turnaround times are either highly priced or have really high interested rates and are not that busy.

Known that we have no incentive to drag this process out. After all, we get paid when the loan closes.

The Risks of Closing Too Fast

Rushing leads to stress. When you try to go too fast, both you and the seller will be stressed out. And when you’re stressed, you’re likely to make worse decisions. And we don’t want that.

This process takes time. You need to go through and sign all the loan documents. We need to lock in the rate and make sure that there is time for a proper home inspection by the right appraiser.

And there is a lot of paperwork. We don’t want to rush that either. There’s probably six to ten different departments and different hands your paperwork will go through before all is said and done, and when people rush the possibility for human error increases. When tiny errors happen, be it a missing suffix, a wrong street address, or dropping a single digit anywhere, massive delays can occur. We want to make sure you have the time to look everything over and that you feel comfortable with the purchase that you’re making.

There will be some pressure from the contract that your real estate agent writes up. They do write in a close date, but we find that the more tenured, seasoned real estate agents don’t rush on this. They understand the time things actually take and make sure space is created for proper due diligence on all fronts. It’s all about making a smooth, good deal for everyone involved. But mainly you.

What about the turn around with jumbo loans?

This one’s pretty simple. It usually takes about 45 days.

In summary

Be mindful and be prepared for a realistic timeline of about 25-30 days, where you are able to not rush and do all proper due diligence required. Don’t let anyone force you into buying a house earlier than you want to.

If you have any questions about this or if you have any questions you’d like us to answer on our podcast, you can email your questions to or give us a call at (602) 535-2171. Be sure to ask us for a free quote on your next mortgage. We’ll personally work with you and help you through the whole process.


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Be sure to ask us for a free quote on your next mortgage. We’ll personally work with you and help you through the whole process.

Signature Home Loans LLC does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. Signature Home Loans NMLS 1007154, NMLS #210917 and 1618695. Equal housing lender.