How long does it take to close a loan for home purchase? IN Carson, CA

Great question: I do not lend in California but to answer your question from an industry standard-it varies from one company to the next. Your larger banks like BofA and Chase can take up to 60 days to close your loan as they have too much business with existing clients and not enough staff to handle the volume and in my opinion they really have no urgency to help out. Your mortgage brokers also deal with the same issues as they are brokering loans to these major commercial banks and have little to no control over the mortage process as it is handled by the bank they broker to. Community & smaller banks are your best route. They can close a transaction with in 7-15 business days as long as they recieve complete cooperation from all parties involved in the transaction. This is because they are lending there own money and the entire loan process is done in house.

standard answer is 30 days, title and appraisal are the two key things that slow up the process. If there is a need for a rush we can handle that here at the bank and close in 2 weeks with everyone working together. I lend in all 50 states.