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Closing on a House Timeline [Infographic]

How long does it take to close on a house? The answer varies depending on the property and the type of loan the homebuyer is taking out. On average, it takes anywhere from a few weeks to a few months to close on a house after you sign a purchase agreement with the seller—but there are several steps you need to take before getting to this point.

 

Below, we lay out a typical timeline for closing on a house, including key points such as:

 

  • What is closing on a house?
  • The steps involved in closing on a house
  • A rough estimate of how long the closing process will take

 

This information can give you an idea of what to expect as you get ready to move into your new home.

 

closing on a house timeline infographic

 

 

Let Cadence Bank help you purchase your new home

 

The process of closing on a house can be confusing, but it’s made easier when you work with a mortgage lender that provides support along the way. At Cadence Bank, our experienced mortgage loan officers will work with you to find the right loan program for purchasing your new home.

 

If you’re a first-time homebuyer, download our free eBook, “First-time Homebuyer’s Guide: Follow These Steps to Get Your First Mortgage” to learn about the steps of obtaining a mortgage.

 

Find out more about our mortgage options, and speak with a mortgage professional today.

 

 

This infographic is provided as a free service to you and is for general informational purposes only. Cadence Bank makes no representations or warranties as to the accuracy, completeness or timeliness of the content in the infographic. The infographic is not intended to provide legal, accounting or tax advice and should not be relied upon for such purposes.

 

 

Sources

1https://static.elliemae.com/pdf/origination-insight-reports/ICE_OIR_JAN2021.pdf

2https://cdn.nar.realtor/sites/default/files/documents/2020-profile-of-home-buyers-and-sellers-11-11-2020.pdf

3https://www.consumerfinance.gov/ask-cfpb/what-is-a-loan-estimate-en-1995/

4https://www.consumerfinance.gov/ask-cfpb/what-is-a-closing-disclosure-en-1983/

 

 

 

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