TLDR: how long are current refinances taking?


I've been holding on refinancing to determine if we want to simply refinance, pull money out for a remodel, or buy new/build, but now we're looking to make a cash investment that may or may not affect the ability to do so. If I wanted to simply refinance at a new rate now, what are the current processing time frames? How soon would I be able to pull cash for investing?

My lenders are backed up but not nearly as bad as they were this summer. I lock all loans at 60 days. At best expect 45 days since there are several time delays built into the process for refis. Purchases can be done in 30 days since lenders prioritize those. As they should.

Contact info in my profile if you want to discuss your options.

Good timing of this article for the thread

http://www.mortgagenewsdaily.com/11192020_ellie_mae_loan_metrics.asp

Thanks for posting that. Will shoot you an e-mail shortly.