Average Time to Close: 45 Days

RealtorMag

For home buyers financing a home purchase, they should expect about 45 days to close, according to the latest Origination Insight Report from Ellie Mae. Last month the average closing time was 44 days.

VA loans rose from 48 days in April to 49 days in May, according to the report.

The closing rate for all loans in May rose to 70 percent. Purchase closing rates were 75 percent and refinancing closing rates rose to 67 percent.

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