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How Long Does it Take to Close on a Home?

January 24, 2018 | By Bryan Hurd

How Long Does it Take to Close on a Home?


You found it! You love it! It’s perfect! There’s nothing quite like the feeling of finding your dream home. But once you’ve found it, what’s next? Before you call the movers, let’s find out how long it takes to close on the perfect home.

Generally speaking, from the time you find the house to the time you close, it takes approximately 30 days. In October of 2015, TRID (TILA-RESPA Integrated Disclosure Rule) was introduced to the mortgage lending industry as a set of new regulations designed to help borrowers understand the terms of their home financing transaction. You can ask your mortgage lender for more information about TRID, but what you really need to know as a borrower is that TRID increased waiting periods and disclosure periods. When TRID first came out, it threatened to slow down the process of closing on a home (somewhere around 45 days), but now that most lenders have their processes in place, we haven’t seen the long periods of time that were predicted. Luckily, you can usually get into your home in about 30 days. And during that 30 day period, there are some things you’ll want to be sure to take care of.




#1. Home Inspection

You are buying the house “as is”, so a good home inspection is crucial. Your home inspector will look beyond what meets the eye. Inspectors check electrical wiring, plumbing, roofing, insulation, and structural features and let you know if there are any issues you’ll want to address before you move in. You’re making a huge investment, so be aware of what you’re getting into.


#2. Appraisal

The appraisal will inform the bank’s of what they believe the home is worth and give you a better idea of whether or not the seller’s asking price is fair. The lender also wants to make sure the property is worth the amount of money that will be loaned.


#3. Loan Approval

Most people can’t buy a home without a loan, so once steps 1 and 2 have been cleared then it’s a waiting game. It can take 30 days for your application and supporting documentation to be reviewed, and sent to underwriter before you can close. Patience is what I recommend to my buyers, though it’s not always easy.

So 30 days is the magic number! Which means, if you’re renting and you have 2-3 months left on your contract, now is the perfect time to call a member of the BHURDinUtah Team so we can help you find the home of your dreams!

BHURDinUTAH Team

Team work makes the dream work: BHURDinUtah getting you from where you are to where you want to be with clarity and purpose. Bryan Hurd, the team founder, ...