I’m often asked how quickly I can close a loan. Right now the market is so competitive that in order for a buyer to get their offer accepted, they have to somehow sweeten the deal. What better way to sweeten the deal but to pay the seller as quickly as possible?
It is important to note though, that a transaction has its organic flow to it, so no matter how quickly a lender can close a loan, all parties must also be on the same page.
All parties meaning:
- the seller
- the title company
- the escrow company
- the notary
- the agents
- an HOA (if the property is a condo)
- and (most importantly) the lender
If you have an efficient lender, and your lender uses an efficient bank that can accommodate fast turn times, then it is VERY possible to close a loan in less than 30 days. This past month, which happened to be December, one of the toughest months to close loans due to all of the holidays, I was able to close three loans in 16, 17, and 19 days – and please believe me when I tell you, in all three cases, the seller, and the escrow companies were both the ones who dragged their feet. We could have closed sooner on the 19 day close, but again, all parties were not on task.
It’s not always the lender’s fault if a loan closes late, however, in most cases, without an efficient operation team, it’s virtually impossible. Please reach out if you’re looking for 30 day loans, we are MORE than capable of accommodating you. And why pay more for the property to sweeten the deal, if all you have to do is pay them less, but sooner!
Want more information on closing a home loan in 30 days? Watch my short video below: