In this week's episode, we went over a common question we get asked all the time: How fast can we close on your mortgage loan for a home purchase? We've heard every variation of this: I need it real quick, I heard someone online can do it in a week, I need to buy the house right now.
And we're not surprised. Buying a house is more often than not one of the biggest purchases you will ever make in your life and it's perfectly natural to be excited. But we want to make sure that you understand a realistic timeline of these things so you can make sure you can get the best loan you possibly can.
Need to Close Fast? Avoid Common Pitfalls
Closing too quickly can lead to mistakes and delays. Get expert guidance on balancing speed and a smooth mortgage process.
Timing, timing, timing
The time frame of closing is not the sexiest of topics, but it's an important one.
When buying a house, both the buyer and the seller have expectations of how things are going to go. They need a house. They have to move in. Or the seller needs to move or needs the money.
We would say, on average, you should expect to close on a mortgage loan to purchase a house in about 25-30 days or less. The quickest we ever closed was in 12 days, but that shouldn't be expected. That was a rare case where all the stars really aligned. Normally, if you hear someone telling you they can close in 10 or 15 days, guaranteed, it's probably too good to be true. The people who are out there marketing to you and telling you they can close in ridiculous turnaround times are either highly priced or have really high interested rates and are not that busy.
Known that we have no incentive to drag this process out. After all, we get paid when the loan closes.
The Risks of Closing Too Fast
Rushing leads to stress. When you try to go too fast, both you and the seller will be stressed out. And when you're stressed, you're likely to make worse decisions. And we don't want that.
This process takes time. You need to go through and sign all the loan documents. We need to lock in the rate and make sure that there is time for a proper home inspection by the right appraiser.
And there is a lot of paperwork. We don't want to rush that either. There's probably six to ten different departments and different hands your paperwork will go through before all is said and done, and when people rush the possibility for human error increases. When tiny errors happen, be it a missing suffix, a wrong street address, or dropping a single digit anywhere, massive delays can occur. We want to make sure you have the time to look everything over and that you feel comfortable with the purchase that you're making.
There will be some pressure from the contract that your real estate agent writes up. They do write in a close date, but we find that the more tenured, seasoned real estate agents don't rush on this. They understand the time things actually take and make sure space is created for proper due diligence on all fronts. It's all about making a smooth, good deal for everyone involved. But mainly you.
What about the turn around with jumbo loans?
This one's pretty simple. It usually takes about 45 days.
In summary
Be mindful and be prepared for a realistic timeline of about 25-30 days, where you are able to not rush and do all proper due diligence required. Don't let anyone force you into buying a house earlier than you want to.
If you have any questions about this or if you have any questions you'd like us to answer on our podcast, you can submit your questions using our contact form or give us a call at +1 (602) 535-2171. Be sure to ask us for a free quote on your next mortgage. We'll personally work with you and help you through the whole process.
Frequently Asked Questions
What is considered the ideal and standard timeline to close a mortgage loan?
How fast can a mortgage safely close and what is considered a super-fast close?
What are the primary risks of trying to close a home loan too quickly?
Why should buyers be cautious of lenders advertising guaranteed 10 or 15-day closings?
Be sure to ask us for a free quote on your next mortgage. We'll personally work with you and help you through the whole process.
Curious about the ideal pace for closing your mortgage? Broaden your perspective by reading about spouse-related mortgage issues, discovering how car loan payments influence mortgage qualification, understanding grossing-up income, and exploring the feasibility of a third mortgage.
Mortgage Brothers LLC does not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. You should consult your own tax, legal, and accounting advisors before engaging in any transaction. Mortgage Brothers NMLS 1007154, NMLS #210917 and 1618695. Equal Housing Opportunity.
Transcript of the Mortgage Brothers Podcast
How Fast Can You Close on a Home Purchase? The Truth About Mortgage Closing Timelines
Introduction [00:04]
Welcome to the Mortgage Brothers Podcast! I'm Eddie Knoell, and I'm Tom Knoell. Today, we're tackling one of the most common questions homebuyers ask:
- How fast can I close on my home purchase?
- Can you close in a week?
- What's the ideal closing timeline?
Let's set the record straight on what's possible, what's realistic, and what's best for you.
Can You Really Close a Mortgage in 10-15 Days? [00:24]
Homebuyers often hear lenders advertising super-fast closings—sometimes as little as 7 to 10 days. But is that realistic?
- Fastest Close We've Ever Done: 12 days – but it was under perfect conditions.
- Typical Fast Close: 25 days or less – anything under 30 days is considered quick.
- The Reality? If a lender is advertising 10-day closings, they likely have higher fees, higher rates, or aren't that busy.
Important: While we've done super-fast closings, it's not the best option for most buyers.
What's the Ideal Closing Timeframe? [05:12]
The best closing timeline is:
- 30 Days – This is the industry standard.
- 20-25 Days – This is considered fast but reasonable.
- 15 Days or Less – Extremely rushed and high-stress.
Why 30 Days?
- Gives enough time for underwriting, appraisal, and title review.
- Reduces stress for buyers, sellers, and lenders.
- Minimizes errors that can delay closing.
Fun Fact: A 30-day closing means we actually have only 20-21 business days to get everything done!
Why Closing Too Fast Can Be a Bad Idea [06:04]
1️⃣ More Stress for the Buyer
- You'll feel rushed – Need to sign paperwork quickly.
- You'll have less time for inspections, rate locks, and negotiations.
2️⃣ More Human Errors in Paperwork
- Rushing increases the chance of typos, incorrect addresses, and missing documents.
- Lenders, title companies, and underwriters need time to get everything right.
3️⃣ You Might Skip Important Steps
- Home Inspections – Rushing could mean skipping a detailed home inspection.
- Appraisals – You might pay extra for a rushed appraisal.
Takeaway: A 30-day closing lets you make smart decisions rather than rushing into a major financial commitment.
Where Does the Pressure to Close Fast Come From? [08:27]
Many buyers feel pressured to close quickly. But why?
- Self-Imposed Pressure – You want to move in ASAP.
- Real Estate Agents – Some agents push for quick closings to “secure the deal.”
- Sellers' Expectations – Some sellers prefer quick closings, but many don't require it.
Seasoned Agents Know Better
Good agents understand that rushing isn't always necessary. They factor in:
- Holiday schedules (Thanksgiving, Christmas, etc.).
- Loan processing time (appraisals, title checks).
- Unexpected delays (underwriting reviews).
Pro Tip: Just because a seller wants a quick close doesn't mean you should do it.
What If You NEED to Close Fast? [10:40]
Sometimes, a buyer must close quickly—maybe they're relocating, have a family emergency, or need to align with another home sale.
- Be Tech-Savvy – You'll need to quickly upload PDFs of bank statements, pay stubs, and tax returns.
- Communicate Everything – If you own multiple properties, have self-employment income, or complex assets, tell your lender ASAP.
- Have All Funds Ready – If you're moving money between accounts, do it before applying for the loan.
Remember: Closing fast requires teamwork between you, your lender, and your real estate agent.
Special Cases: Jumbo Loans & Simultaneous Closings [13:38]
- Jumbo Loans – Typically require 45+ days to close due to extra underwriting requirements.
- Simultaneous Closings – If selling one home and buying another, using the same title company helps speed things up.
Key Takeaway: If you're dealing with complex transactions, expect extra time to close.
Final Answer: How Fast Can You Close on a Home? [07:49]
- Standard Close: 30 days (best for most buyers).
- Fast Close: 20-25 days (if needed).
- Super-Fast Close: 15 days or less (only in rare cases).
- Avoid Rushing! Closing too fast increases stress, errors, and costs.
Pro Tip: Instead of rushing, work with a trusted lender who can handle everything efficiently—so you close on time, with confidence.
Need a Mortgage? Contact Us Today! [16:15]
If you're buying a home and need expert mortgage advice, we're here to help!
Contact us: Contact Form
Call us for a personalized mortgage review
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Final Thought: Buying a home is a big decision—take the time to do it right!