Before you give notice to break a lease, sell a home or hire movers, make a mental note of these typical escrow time frames.
Conventional Loans: 45 days
FHA: 50 days
VA: 62 days
USDA: 90 days
Short Sales (after lien holder approval): 45 days*
REO/Foreclosure: 47 days
Remember these are just the current average time frames. Your Realtor and lender will give you updates along the way to give you a good idea when you can close escrow.
*Short sales can take around 6 months to become approved for sale by the bank. After lien holder approval, escrow can officially open.
No comments:
Post a Comment