Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

how long for an FHA loan to close

We started loan process in Aug/08, still no closing on our loan wihich was approved. how long does it normally take? we have no settlement agreement.

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

We have an fha loan and it took us approximately 3-4 months before everything was final. Good luck!

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:50 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest!

Welcome to the forums!

The loan process will take some time as the lender will have to verify all the documents and prepare new loan documents. You may speak to your lender once and check how much time it will take. May be you will be getting the loan this month. Good Luck!!!

Feel free to ask if you have further queries.

Sussane

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:50 | Post subject:

elnora.little's picture
elnora.little | Joined: October 1, 2008 08:43 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Each lender is different I suppose. I have never had an issue closing an FHA loan with in 15- 30 days.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:50 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

every end of the spectrum is displayed here. from elnora with her 2-week or so processing (you go girl!) to our original poster with 3-4 months with no closing as yet.

i think 3-4 months is far too long, also. to have had no real contact with your lender is ridiculous.

sussane, i am afraid your response didn't shed much light on things here.

i don't have too much in the way of advice, except to immediately contact your loan officer and anyone else who you can contact at the lender's offices to find out why the communication has been so bad; and to try to determine when, and if, a closing will take place.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:50 | Post subject:

elnora.little's picture
elnora.little | Joined: October 1, 2008 08:43 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I agree though with George, 3-4 months is way too long.

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:50 | Post subject:

dilipgagare's picture
dilipgagare | Joined: March 26, 2009 04:41 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi,
Generally, FHA loan will close in three weeks. But it dependes upon your document. For FHA loan closing requires more documents should be to update the documents that they already have such as pay stubs, bank statements, and other paperwork that is within the guidline of the bank and need to be up to date on the time of closing.

It might be take 5-6 week if bank suddenly decided home inspection.FHA loans can close as fast as the appraisal and title work can get back, and the borrower gets the proper documentation into the underwriter.

When purchasing a home, you will generally have some closing cost in addition to any down payment. FHA closing costs that may be charged to the buyer are considered "allowable" FHA closing cost per HUD. These are buyer costs that are customary and necessary to close the mortgage

I hope you Understand .

Regards
Dilip

Like | Dislike | Share | Posted: Fri, 02/05/2016 - 00:50 | Post subject:

Page loaded in 0.340 seconds.