How soon after I sign loan documents will my loan close?
On a purchase transaction or a refinance of a second home or rental property, we can typically close within three days (one day to review the docs, one day to fund the loan, and one day for the loan to record). On a refinance of a primary residence, there is also a three business-day rescission period that must pass before your loan can fund.
Just a note on closing versus funding. In almost all counties, we fund the day before a loan records/closes. The recording or closing date is the day you get the keys to your new home (purchase) or your current lender(s) get paid off (refinance).
- What happens at the loan closing?
- How can you close my loan if you are not in my area?
- Can I select my own closing agent and title insurance company?
- Can I close my loan in the name of a Trust?
- Can I close my loan in the name of an LLC?
- If I am receiving cash out at the end of the transaction, how will I receive my proceeds?
- If my loan is closing around the first of the month, should I still make my payment to my current lender?
- What happens to my loan after it closes?
- Can I make my monthly payments with an automated debit from my checking account?
- Can I make a bi-weekly payment?