Nationwide, as buyer demand and competition for homes has grown, so has the desire for “quick closings”. Requests for quick closings have climbed as the home buying landscape has become more competitive. Buyers will offer to “close quickly” to enhance the appeal of their purchase offer making it more compelling and to help their offer stand-out among the competition.
Loan volumes play a major role in approval timelines and as loan volumes decrease, lenders are able to turn purchase approvals more quickly to the benefit of today’s home buyers. Loan volume is highly seasonal and volumes tend to increase in the spring and summer months.
As loan volume rises, your ability to do a quick close will wane. If you’re considering purchasing a home you’ll want to know How Long It Takes to Close on a Home Purchase and ways to maximize your closing speed, Follow these helpful behaviors outlined in the link and your loan can be approved more quickly.
As always, I am here to help you with all of your home-related needs whether you are in the market to buy or to sell. Call or email me anytime with questions or to start this important process.