How do people close a mortgage in a week??

[Justin Silverio]

I've heard people talk about closing a mortgage in a week. How can this be done? I've talked to a local bank and they said they can close in a month if things go well. When I told them about closing in a week they didn't think it was possible because the appraisal would take longer than that. Luckily most of my funds will be coming from a LOC, but I'm still curious how people close so quickly.

[Chris Martin]

It may be tough to do with government-backed underwriting requirements, but closing in a week using private or HM lending is certainly possible.