Quickest Closing on Conforming Financed deal?

Question

I'm curious to know what's the quickest close that BP members have experienced for a standard financed deal (could be investment, primary home, vacation home, etc.)? Do other states have different standards? For example, in California typical financed deal has 30 day escrow. I recently closed a 5% conventional purchase in 18 days (so it is possible to do in a lot less time than 30 days). In California we use title/escrow officers in lieu of closing RE attorneys. Does this make a difference in closing time-frames?

Private lenders write their own rules so not interested in hearing those timeframes.

What I'm curious to hear comparisons on is anyone who's gone through the pleasure of using conventional/conforming financing. This can be Conventional, FHA, VA, and even USDA loan.

Private lenders write their own rules so not interested in hearing those timeframes.

What I'm curious to hear comparisons on is anyone who's gone through the pleasure of using conventional/conforming financing. This can be Conventional, FHA, VA, and even USDA loan.

John Mathewson · Answer

I think one time we closed an FHA buyer in like 30 days. Unfortunately that is very rare for what I have seen. Totally possible but really dependent on the buyer. The riskier the buyer the longer the closing process. I've also had them take 3 months before...

Wayne Brooks · Answer

Other than waiting for the appraisal, that is totally dependent upon the efficiency of your lender, and the completeness of the documents required from the borrower, and how far along the lender has qualified/verified the borrower upon signing of the contract.  14 days is probably possible, but not the norm.