Hi from the Ozarks!

9 Replies

Hello! I really enjoy this sight since it is made up of ACTUAL,SUCCESSFUL , investors. I just bought a house under FHA, i'ts a house I am going to live in. I Have a baby and i'm trying to get it closed before the estimated closing date if that's possible. The reason is I would like to move in before the weather gets bad, and be set up before Christmas. My estimated closing date is December 18. Any advice on how to speed up the process with the lender? Thanks everyone!!

Hi back from the Ozarks!  How long has the home bee n under contract?  It's pretty standard to take 30 days to close from signing contract to closing.  You can try calling your real estate agent or bank to speed up but, unless it's taking significantly longer than 30 days, you probably won't be able to move up closing.

Sometimes (rarely), a seller will allow the buyer to move in prior to closing.  That might be another option.

@Mitch Letterman

Welcome to BP, neighbor!

FHA lenders set the loan processing and underwriting in line with the estimated settlement date in the contract, the process really doesn't allow or encourage anyone to butt in line.

The title company has a schedule too, they shoot for that contract date.

I suggest you not try to rush anyone.

Just sit back and go with the flow. You might need to wear a coat and gloves to move and if you get organized you can have Christmas in your new home.  

ok, the contact started Nov. 5. I was told that the process was 45 days on FHA because of new regulations. But I had heard that 30 days was pretty normal still. Also, my Realtor thinks that it could close three days early based on his experience. My lender just said he was shooting for Dec.18 and left it at that. So who knows.

As long as you got everything to you lender they requested in a timely manner there is really nothing you can do to speed up. Depending on the bank and as long as everyone involved you can close in 15-30 depending on bank

Thankfully under Dodd-Frank legislation and CFPB regulations what used to take 30 days has been sped up to 45 days or longer!  Sorry, forgive the Orwellian newspeak.  

If it was me I'd be asking that question of my lender.  I'd make sure any documentation the lender needs is provided promptly.   

Yes my lender said it is in underwriting. They called my work the other day for a VOE. Also my appraisal was done last week. I was told that the slow times of the year the process is much faster. Anyways, I'll let you know if Dodd/Frank ruins my Christmas😉.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you