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Old 01-16-2017, 07:07 PM
 
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Fannie Mae property. How long does it take to close with cash vs mortgage?
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Old 01-16-2017, 08:27 PM
 
Location: northern va
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cash - as fast as you can clear title (and complete inspections etc if applicable) and transfer the money once you have a ratified contract. A week if you move swiftly

mortgage - as fast as you can get an appraisal back in and clear underwriting/inspections. 21 days minimum would be what I'd budget for, 30 days to be safe with the latest round of guideline changes
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Old 01-17-2017, 05:46 AM
 
Location: Mount Laurel
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Not a realtor so my response is from personal experience within last 7 years.


With cash. The quickest I have been able to do is within 30 days. The delayed is usually the hold up from FNM part. It usually takes them a week or two to get the title clear.


Mortgage. They are more comfortable with 45 days but usually close around 30 days but it really depends on the specific home.
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Old 01-17-2017, 05:04 PM
 
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Thank you everyone!
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