can loan be closed on federal holiday?

It can technically close if the lender is open for business but it will not fund until the next business day if it is a purchase. If it's a refinance then it will not fund for three more business days because of the recission period.

Generally the answer is no. By definition, the closing occurs when the legal documents are recorded with the County Recorder's office. Since they are closed on most if not all Federal holidays, then a closing cannot occur. However, Most financial institutions will allow the signing of closing documents on any day, holiday or not. If a particular lender refuses to do so, then it is because of their policy, and not because of a particular law, unless a state has a law on the books forbidding it, and I am not aware of any that do. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Yea a loan can be closed on a federal holiday; however, if you are wanting to close and fund on your home loan on a federal holiday than that will not happen.

Yes, you can close. Fund only if escrow agent already has funds to disburse. Otherwise wait till next biz day.