How long does the process usually take to buy a home, and what should I expect? It usually takes about 30 days from the signing of the purchase contract to closing; however, depending on the loan product you choose, it could be up to 60 days.
On average, most homes can be put under contract and closed on within a 30 day timespan-- but, this is just an average. The time duration can vary due to the chosen loan products or current workload of the bank, title company, and appraiser at the time your future home goes under contract. Certain loan products, like Rural Development loans, may take longer than the normal 30 day time-period. It is always best to discuss, with your JCS Agent and Lender, the pros and cons of selecting a more non-traditional loan product prior to making an offer on a home. Of course, in the event there is no need for a mortgage, a home can be purchased much quicker than the traditional 30 days.