"How Long Will My Chicagoland Mortgage Closing Take?"

"How Long Will My Chicagoland Mortgage Closing Take?"     


Make Your Dreams Come True .. Contact Gene Mundt, LO

      You have found the home of your dreams ...  

     The documentation and underwriting requirements for your mortgage have been met.  You've finally heard the sweet words "Clear to Close" from your Lender.  The big day, Closing Day, has been set ...

     Once all these things have taken place, I hear the following question from Borrowers fairly often: 

     "How long will my Closing take?"

     Truth is, that can depend.  Many factors contribute to the length of time a Borrower is at the Closing table on their Closing Day.  

     Some of the things that impact the time needed for Closing are:

  • Is your transaction a Refinance or Purchase?
  • Day of the Month in which your transaction is scheduled (Tip: Avoid the last day of the month
  • Closing taking place around a Holiday?  (Holiday-time Closings can be more stressful & shortages in Closing personnel can come into play)
  • Quality of Title Company, Closer, & technology used
  • Size of Loan Package (No pun intended, but size does count!)
  • Piggyback/2nd Loan also involved?
  • Quality/Timeliness of Lender's Funding/Wire
  • Attorney involvement?  (Pace of Closing is typically controlled by Attorney(s)  
  • More ...

     Well-executed, simpler, fluid Closings can take place in as little as a half-hour to 45 minutes.  Those transactions that are more complex or face additional challenges can last much longer.
Get Prepared for your Chicagoland Mortgage. Contact Gene Mundt

     Is there anything that Buyers/Borrowers can do to prepare a path to a successful, speedy Closing?

     Yes.  They should take proactive first steps ...  

     They should conduct research ... gain referrals ... do homework ... while searching for their Mortgage Originator and real estate professional.  Much depends on it.  

     Buyers/Borrowers often forget:  They control which professionals and services are utilized in their portion of the transaction.  And the choices they make do impact the amount of time spent at a Closing Table later.

    My Tip:  Spend a little time early in the process to find the best Chicagoland professionals and services available ... or spend a lot of time at the Closing Table later ...    

     *  Looking to Buy or Refinance a home in the Chicagoland/IL & WI area?  Contact me today!  I'll put my 37 years of mortgage expertise and experience hard to work on your behalf.
     I can be easily found at:

Gene Mundt
Mortgage Originator  -  NMLS #216987  -  IL Lic. #031.0006220  -  WI Licensed
American Portfolio Mortgage Corp.
NMLS #175656  
Direct:  815.524.2280
Cell/Text:  708.921.6331Consultation & Quote for Mortgage
eFax:  1.815.524.2281


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Gene's Chicagoland Blog/Gene Mundt, Mortgage Lender   





Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656


Gene Mundt, Mortgage Originator,  40+ years of #mortgage experience, will offer you exemplary mortgage service and advice when seeking:  #Conventional, #FHA, #VA, #Jumbo, #USDA, and Portfolio Loans in #Chicago and the greater Chicagoland region, including:  The #Lincoln-Way Area, #Will County, (#New Lenox, #Frankfort, #Mokena, #Manhattan, #Joliet, #Shorewood, #Crest Hill, #Plainfield, #Bolingbrook, #Romeoville, #Naperville, #Wilmington, #Peotone, etc.), #DuPage County, the City of Chicago, #Cook County, and elsewhere within IL and Wisconsin. 


Your Referrals & Testimonials are Always Greatly Appreciated! 




The many variables we find in our industry.  Good points.

Posted by David Alan Baker Laveen & South Phoenix Realtor, Your local Expert (Keller Williams Realty Phoenix) almost 5 years ago

I scheduled a close today (to avoid the last day of the month) and it was all cash. It still took 90 minutes - it's frustrating but I figure it's part of doing business.

Posted by Margaret Goss, Chicago's North Shore & Winnetka Real Estate (Baird & Warner Real Estate) almost 5 years ago

Hi Gene - Good information for buyers. Here, a cash closing is about 15 minutes, and a loan depends entirely on the size of the loan package and responsiveness of the lender, but is usually running 1 to 1.5 hours.

Posted by Dick Greenberg, Northern Colorado Residential Real Estate (New Paradigm Partners LLC) almost 5 years ago

Gene here in CT we are an Attorney State, and the Closing takes place at the Buyers Attorney's office.  A Closing normally takes about an hour for both Buyers and Sellers to sign all of the documents.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) almost 5 years ago

Lucky man, so far neither of those horrible people have found your very informative post.  

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) almost 5 years ago

A closing will average around an hour here Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi but you and I both know there is one delay that you didn't mention but I will.   The Buyer and the Seller.

It is frustrating to go through the process and repeatedly ask, "Is there anything you are unclear about or that we need to discuss ?"; only to have that person question every single page at the closing table.   I've had a closing where we finally had to take a lunch break because the Seller had to question everything taking hours to get it done.   Turns out, it was the first time they had ever sold a property.

I educate my Buyers ahead of time; I can't always do that with the Sellers.   

Posted by DEANNA C. SMITH CERTIFIED MOBILE NOTARY, Highest Ranked Certified Mobile Notary in Virginia (Certified Mobile Notary Signing Agent) almost 5 years ago

Good morning Gene. This are different in each state I do business, as long as each transaction closes, it really doesn't matter how the process works.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) almost 5 years ago

This is great advice and important information to share with the prospective mortgage borrowers. 

Posted by Roy Kelley (Realty Group Referrals) almost 5 years ago

Gene, reading this post is like tip toeing through a garden. You can't get to the close until all the steps are taken. Gene, your guidelines are a road-map that many buyers and agents need to know!

Posted by Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives (DFW FINE PROPERTIES) almost 5 years ago

Closings in my area last about 45 minutes. If it is cash then they are fast, usually under 10 minutes. Enjoyed your post, Gene.

Posted by Debbie Reynolds, C21 Platinum Properties, The Dedicated Clarksville TN Realtor-(931)320-6730 (Platinum Properties- (931)771-9070) almost 5 years ago

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