So you found the house of your dreams, have an accepted offer, and are ready to move in as soon as you get a loan, right? It is important to have realistic expectations of the time frame to complete the loan process, appraisal and reach the closing date. Once you have applied for a loan, the lender will request an appraisal, work through all the numbers and prepare your loan documents for the title company who will handle your escrow account. Depending on your lender, this can take a few weeks or over a month. Sometimes this can be the hardest part of the home buying experience because you will not have an active role in this and you just have to sit back and wait.

 

Some lenders will be able to expedite the loan process and assure the buyer that all documents will be in order. This greatly helps the title company, real estate agent and home buyer to feel confident that the house will close on the correct date. Once again, this is a reminder of how critical it is to choose a trusted lender who will work for you, the buyer. While waiting in this limbo of time between selecting a home and receiving the keys, I recommend you relax, stay busy and let your lender do the work.