Academy Mortgage Corporation

WHEN WILL ____ BE DONE?

 

Every realtor and client asks this so here it is. This is for an average loan time frame. 

Go to our special page for our  "2 Week Close"

 

SET UP                                   1-2 DAYS

APPRAISAL                           5-7 DAYS

TITLE                                      5-9 DAYS

PROCESSING                        2-4 DAYS 

UNDERWRITING                  1-3 DAYS

DOCS                                     1-2 DAYS

FUNDING                              1-2 DAYS

At the beginning of the month appraisers are busier getting lots of orders. 

Middle of the month processors get loads of title reports and appraisals. then underwiters get slammed with files that are all "rushes" needing to fund quickly.

End of the month doc drawers, funders and escrow companies get slammed with files and they can get backed up.

 

Unfortunatley there are a several variables in each of those steps.

Eample :

we might get to processing and need a tax return but... find out the borrower has not filed them yet and so we wait for tax returns to be completed, delivered to us, then verified by the IRS.  Processing can take 2-3 weeks instead of 2-3 days.