How Long Does It Take To Close On a House?

By
FACT-CHECKED
Published Nov. 21, 2022
Woman at a desk reviews closing documents on a laptop.

If you’ve found the house of your dreams and made a successful bid, you’re in the homestretch. You may be eager to grab the keys and move in, but it’s important to take the time to properly close the deal to avoid any expensive oversights.

It typically takes between 30 and 60 days to close on a home, with closing times in 2021 averaging about 49 days, according to ICE Mortgage Technology.

How you pay for the home can affect how long it takes to close. If you’re buying with cash, the closing process speeds up considerably, and you can close in just a week or two. That’s because you’ll be able to skip all the individual steps it takes to get approved when you need a mortgage.

What Delays Closing on a House?

Problems that could delay closing include:

  • The buyer fails to get a loan approved.
  • The buyer is unable to make the down payment.
  • The seller fails to complete agreed-upon repairs.
  • There are claims on the title, or liens against the property.
  • The home appraises for less than the sale price.
  • Issues are discovered during the home inspection.
  • The loan officer is inexperienced.

Tips to close on schedule

boxIcon

FAQ: How Fast Can You Close On a Home?

Here are answers to some frequently asked questions about closing on a home.

Ready for more learning?

Here’s some other helpful articles

Related Articles

**itsHome, a LMB Mortgage Services, Inc. company, is not acting as a lender or broker. The information provided by you to itsHome is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender. If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher depending on your property location, credit score, loan-to-value ratio, debt-to-income ratio, and/or other factors. itsHome does not offer its matching services in all states. This loan may not be available for all credit types, and not all service providers in the itsHome network offer this or other products with interest-only options. The information that we provide is from companies which itsHome and its partners may receive compensation. This compensation may influence the selection, appearance, and order of appearance on this site. The information provided by itsHome does not include all financial services companies or all of their available product and service offerings. We use cookies to track data and provide you with the best possible experience. By proceeding you consent to the use of these cookies. For more information, see our Privacy Policy.

itsHome, a LMB Mortgage Services, Inc. company NMLS #167283, www.nmlsconsumeraccess.org