How long should a refinance take in this current low interest market?

As applications pile in, the whole machine slows down. Right now a good lender should only be taking about 30-days from beginning to end. http://www.wi-mortgagebroker.com

About 30-45 days with smaller lenders. Forget the big banks, they won't even return calls in this high volume market. As long as you provide everything that's needed from you, and assuming a loan officer knows exactly what to ask for, it's not a super lengthy process. You can lock the interest rate any time you want, so if you would like to capture today's rate, you can do that. Or, you can float for a while if you feel that rates may come down further. You can visit my Rate Lock Advisory everyday to gauge what's going on in the rate marketplace. http://www.myhomefunds.com/DailyRateLockAdvisoryI am also a Wisconsin Lender.

As you can tell by the responses that the times vary from lender to lender and from state to state.. Right now there are a ton of loan applicants applying to lower their payments and interest.. Because of the high amount of applicants, all the lenders are back logged.. Those lenders who are doing HARP loans with unlimited loan to values seem to be taking the longest to close a loan.. Some as long as 4 months.. other lenders who are not participating in HARP refinance will have much shorter closing times since they don't have the back log... my suggestion.. if you are not underwater, then find a local mortgage broker who is not participating in HARP.. You should be able to close inside of 30 days.. if you are underwater, then expect a long closing time.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

That's a loaded question. The answer is "It depends!" I've been able to close FHA streamlines in as little as 9 working days, and I have a couple of Freddie Mac Open Access (HARP) with over 250% Loan-to-Value that are going into their 5th month. Other factors included how quickly the customer provides the needed documents, the complexity of the borrower's situation and the efficiency of the lender in general. If your lender has a fine tuned process, most, traditional refinances are taking 3-5 weeks. The big banks are taking longer, primarily because they are not increasing staffing levels to accommodate the increased volumes. Work with a local Mortgage Banker/Broker instead. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

The length of time for a refinance depends on a few things. Much of the wait time would be if a home appraisal is required. The rest of the credit documentation and verifications take very little time. Even with an appraisal, you should be able to close on a refinance in about 45 days unless there are unusual circumstances. Thanks for your question!

I prefer not to look at your personal needs as a "machine." Expect a very personal experience with me. I am a Wisconsin Lender.

15 to 30 days....give me a call and if it is spped your looking for. I can help!Sean Wright920-391-4234