How Long Does It Take to Buy a House?
Buying a home takes longer than most people think, but most of the wait is predictable. Here is a realistic timeline and what you can do to keep yours moving.
Step 1: Get ready (a few days to a few months)
Getting pre-approved can take a few days once you send your documents. If you need to raise your credit score or save more cash, give yourself a few months. Credit tips.
Step 2: Find the home (weeks to months)
This is the part that varies most. It depends on your budget, your must-haves and how many homes are for sale where you are looking.
Step 3: Under contract to closing (often 30 to 45 days)
With a mortgage, many closings take about 30 to 45 days after your offer is accepted. Cash deals can close faster. During this time:
- First week: earnest money, inspection, and your full loan application. About earnest money.
- Weeks 1 to 3: appraisal, title search and underwriting.
- Final week: final loan approval, your Closing Disclosure at least three business days before closing, a final walk-through, then signing.
What slows closings down
- Missing or late paperwork for the lender.
- A low appraisal that needs to be renegotiated.
- Repair negotiations after the inspection.
- Title problems, like an old lien.
- Changes to your credit or job during the process.
How to speed yours up
- Get pre-approved before you shop.
- Answer your lender the same day they ask for something.
- Book the inspection the day your offer is accepted.
- Don't open new credit or change jobs until after closing.
Quick answers
How fast can a cash buyer close?
Cash deals can close in one to two weeks when the title is clean, because there is no loan approval or lender appraisal to wait for.
What step takes the longest?
The home search varies most. Once under contract, loan underwriting is usually the longest step.
Can I close in 30 days with a mortgage?
Often, yes, if you are pre-approved and send documents quickly. See earnest money, the inspection and credit tips.
Recent Posts
