Buying a new home is a stressful, yet exciting process. There are many questions you will have throughout the entire home buying process. One question that many new home buyers ask is, “How long does it take to close on a house?” Team Crescenzo is here to help answer this question, and a couple others, so you will feel better prepared when purchasing your dream home!

How Long Does it Take To Close On A House?

Typically, the average time it takes to close on a house is anywhere from four to six weeks. Depending on the type of loan you have, this may vary. With standard mortgage loans, the average is around 45 days. However, with FHA loans, it can take up to around 50 days before you’re able to close on your new home. Along with this, it’s also important to keep in mind that issues may arise during the process. Some of these issues could include unclear communication and the amount of time it may take to appraise and inspect the seller’s house. As long as everyone is providing clear communication (between the seller, buyer, and lender), and staying organized, this will speed up the process, no matter what loan you may have.

What’s Included in Closing Costs?

It’s important to know what is included in closing costs, so you can go through the process as an informed buyer! When paying your closing costs, you are paying for:

  • The application fee for processing your loan
  • Title insurance coverage
  • Home inspection fees
  • Loan origination fee
  • Closing fees for conducting the meeting
  • A year’s worth of homeowner’s insurance fees

What Can I Expect At Closing?

We’re happy to walk you through what a typical closing day looks like! On the closing day, you will be meeting at either the office of the title company, or the attorney or lender’s office. While here, you will meet with various legal representatives to sign your mortgage and other important documents. Make sure to read each document entirely, and ask any questions if you have any, to ensure you are confident in what you are signing. After this, you will then make any required payments, your lender will distribute the funds to cover your home loan amount to the closing agent, and you will then receive the keys to your new home!


What to bring with you:

  • Copies of any paperwork you received or signed throughout the entire homebuying process
  • Two forms of ID (one must be government-issued and include a photo, such as a driver’s license, and the other must have your name printed on it, such as a Social Security card)
  • Documentation of homeowner’s insurance and inspections
  • A certified or cashier’s check to cover any costs (closing costs, prepaid interest, down payment, taxes, insurance) if applicable

Once you’ve reached your closing day, signed the necessary paperwork, and paid the closing costs, the title will then be transferred to your name and you will officially be a homeowner!

If you have any further questions about the homebuying process, Team Crescenzo is ready to help. You can reach us at 843-277-0395!