Looking for someone in the mortgage industry who can give me detailed into about closing a house.?

So I have a Realtor and have had an offer accepted on a house (in Texas). I went with the financing guy that works with his office because I thought it would make the process faster. Turns out the guy who works there is clueless. So we have had the inspection and repairs done. And I went to my bank which handles ALL of my financing and they gave us a better rate then the original guy the only issue is they are 100 miles away. So here is the question, with this bank having ALL of my financial information and them giving a good faith estimate. Why does it still take 3 weeks for them to get to closing. What I am really getting at is if I were to break down hour by hour or day by day what will they be doing for 15 business days? Again seller has agreed to sell, house has been inspected credit is more then great so what exactly takes 15 days to do?

Looking for someone in the mortgage industry who can give me detailed into about closing a house.?annual credit report

It takes that much time just to go through the channels. Lots of verification and documentation going on. Less than one month is good I would say.

Looking for someone in the mortgage industry who can give me detailed into about closing a house.? loan

Understanding the Concern,

It sounds like you are ready to move in.

Buying a home and the process it takes usually runs a thirty to a forty-five day course.

From inspections, appraisers, surveyors, repairs, title commitment (7 days to 2 weeks), initial underwriting and the stipulations they request, and confirmation of the response to their stipulations, and other. It can be an anxious moment and a headache.

Especially, with the burden of packing, moving, and trying to orchestrate the schedule for the transition (work, rentals, supplies, money, and other).

The lenders in general and underwriters are backed up due to refinancing and new purchases, which may increase waiting periods. Be patient and it will all come to an end soon.

You have to run the process due to you retrieving a loan vs. paying cash. Even with cash it can take up to 7 to 15 days to close a deal.

Let it run its course and remember there are other files in place that are also trying to be approved.

Usually you will see the quickest response towards the end of the month, quarter, or year.

I hope this helps.

Good Luck|||They still have to go through their own underwriting for the loan. In this market, what would have taken about a week a year ago, now takes about 3 weeks. It depends to if they have to do their own appraisal or if they were able to get a copy of the previous lenders appraisal. Thats another week to get done and review, but should be part of those 3 weeks. It%26#039;s just a process. However, I would suggest trying to yourself or telling Realtor to keep calling to find out where they are at with everything. They are people to and sometimes they need a little pressure to get it done quickly. Good Luck!|||besides your financial in formations, the bank need to verify all the information about your employment and not always they got those information right away. appraisal review will take couple days and some other things they need to collect from other parties to prepare all the documentation for your closing and remember- you are not only one to apply for the mortgage with this bank.|||As much as i know,this is a question with different answers,it is really depend on yourself judgement,some great resource her for reference though.http://mortgage.specialistideas.info/fha...