How long does it take a true no doc loan to close?

Posted on Sep 26, 2012 in Stated Income Loans

Question by Matthew S: How long does it take a true no doc loan to close?
I am going to be applying for a True No Doc home loan this week. Getting approved won’t be a problem since I have a 760 credit score but I was wondering how long it will take this loan to go through assuming all title and appraisal work is accurate. Thank you for your answer. I want to close on this home quickly.

Best answer:

Answer by FakePlasticTrees
I’m wondering that myself actually. What lender are you using?

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One Comment

  1. Usually the fastest you can close on a home loan is 2 weeks. This is assuming that everything goes through with no problems, like appraisal coming in at a good amount, and that credit score is consistent at all credit bureaus. Make sure the amount you are stating you gross from employment is more than enough to cover the monthly mortgage payments otherwise you might need to verify assets and that can delay a day or two. Hope the mortgage consultant or broker that you are working with is on top of their game and get all things accurately and in a timely manner.