How long to close on a house? The typical mortgage closing timeline is 30 to 45 days. That is the national average for conventional fixed-rate and adjustable-rate mortgages. But that number can shift significantly depending on how you are financing the purchase, the property’s condition, and the market conditions when you are buying. Here is a clear breakdown of what affects your timeline and what you can do to keep things moving.
Types of Home Financing and How They Affect Closing Time
Before you can understand your closing timeline, you need to understand how your financing choice shapes it.
Fixed Rate Mortgage
A fixed rate mortgage locks in your interest rate for the entire life of the loan. Your payment stays the same whether rates go up or down after you close. This is the most straightforward mortgage product and typically closes in 30 to 45 days.
Adjustable Rate Mortgage
An Adjustable Rate Mortgage starts with a fixed rate for an introductory period and then adjusts at defined intervals based on market conditions. PDCU offers a 7/1 ARM, which is fixed for seven years and adjusts annually after that, and a 10/10 ARM, which is fixed for ten years and adjusts every ten years after that. ARM loans close on the same 30 to 45 day timeline as fixed rate mortgages.
ARM loans are often a practical choice if you plan to sell or refinance before the fixed period ends, or if you need to qualify for a larger loan amount than a fixed rate product would allow at the same monthly payment.
Your Mortgage Loan Starts Here
Begin your path to financing your next home. People Driven Credit Union can help you turn your financial goals into reality.
FHA and VA Loans
Government-backed loans through the Federal Housing Administration and the Department of Veterans Affairs offer advantages that conventional loans do not, including lower down payment requirements, more flexible credit standards, and competitive rates for eligible borrowers. FHA loans are available to buyers with lower credit scores or limited down payment funds. VA loans are available to veterans, active-duty service members, and eligible surviving spouses.
The trade-off is time. Government-backed loans typically take 45 to 60 days to close because of the additional documentation, appraisal requirements, and review steps involved in the process.
Zero Down Mortgage
PDCU’s Zero Down Mortgage gives qualified borrowers the ability to fully finance the purchase of a primary residence without a down payment. This is a non-governmental option for buyers who meet the eligibility criteria but do not have a large amount of cash on hand at closing.
Cash Purchase
Buyers who can purchase a home outright in cash eliminate the lender entirely. Without underwriting, appraisals required by lenders, or loan approval timelines, a cash purchase can close in as few as 7 to 21 days. This option requires significant capital but results in a faster, simpler transaction.
Bridge Loan: Buy Before You Sell
If your down payment is tied up in the equity of your current home, a Bridge Loan from PDCU lets you access that equity now so you can buy your next home before selling your current one. This removes the home-sale contingency from your offer and allows you to make a stronger, cleaner bid without waiting for your existing home to close first.
PDCU’s Bridge Loan is a fixed-rate balloon loan with a 6-month term. Monthly payments are calculated using a 240-month amortization schedule. The remaining balance is due when your current home sells or at maturity. Bridge Loans are available for primary residences only. If your next home purchase requires financing, that financing must be through People Driven Credit Union. All loans are subject to credit and property approval.
Buying Before You Sell?
Turn your current home's equity into your next down payment so you can make a stronger offer and move once. Explore Bridge Loans at People Driven Credit Union.
Factors That Can Speed Up or Slow Down Your Closing
Pre-Approval
Getting pre-approved before you start shopping is one of the most effective ways to shorten your closing timeline. Pre-approval completes much of the lender’s underwriting work in advance so that when you find a home and make an offer, the financing process is already partway done. Sellers also take pre-approved buyers more seriously, which can help your offer stand out in a competitive market.
Property Inspection
A home inspection typically takes a few hours but scheduling and waiting for an available inspector can add several days to your timeline. If the inspection reveals issues that require the seller to make repairs before closing, that adds even more time. Skipping the inspection to save time is rarely a good trade. The cost of discovering a major defect after closing will almost always exceed the time saved by skipping the process.
Choose an inspector who is independent and has no business ties to the seller or the financial institutions involved in the transaction. That independence protects your interests.
Title Search
Before you take ownership of a property, a title search confirms that the seller has the legal right to sell it and that there are no outstanding liens, unpaid taxes, or competing claims on the title. Most title searches are straightforward and add minimal time to closing. When issues do surface, whether a lien from a previous owner or a break in the chain of title, resolving them can add days or weeks to your timeline depending on complexity.
Market Conditions
The timing of your purchase affects your timeline in ways that are largely outside your control. In a hot market with high transaction volume, real estate professionals, appraisers, and title companies are working at capacity, which slows things down. In a slower market, the same steps move faster. As a general rule, fall and winter tend to favor buyers in both price and pace compared to the spring and summer peak season.
Selling Your Current Home
If your purchase depends on the sale of your current home, your closing timeline is only as fast as the slowest part of that process. If your current home takes longer to sell than expected or its closing gets delayed, it can push back your new home purchase as well.
A Bridge Loan from PDCU addresses this directly by turning your current home’s equity into funds you can use now, before the sale closes. That gives you the ability to move forward with your purchase on your timeline rather than waiting for both transactions to line up perfectly.
Not sure which mortgage product fits your situation? Contact our Mortgage Loan Officer or connect with a Home Equity Specialist about a Bridge Loan if you are trying to buy before you sell.
How long to close on a house Frequently Asked Questions
Meet Our PDCU Mortgage Specialist
Michelle Dzon is authorized to act as an agent on behalf of People Driven Credit Union. Contact her for personalized assistance with your mortgage needs.
Michelle Dzon
Member First Mortgage
michelle.dzon@memberfirstmortgage.com
Connect with Michelle
616-301-1714 | NMLS ID: #401292
Private mortgage insurance, or PMI, is insurance that helps protect the lender if a borrower stops making payments on a conventional mortgage loan. PMI is typically required when your down payment is less than 20% of the home’s purchase price or original value.
When PMI is usually required
PMI is most commonly required on a conventional mortgage when you put less than 20% down. It increases the cost of the loan, but it may also help you qualify for a mortgage sooner if you do not have a larger down payment.
When PMI may be removed
In many cases, you can ask to remove PMI once your loan balance reaches 80% of the home’s original value and you meet the lender’s requirements. In general, PMI is automatically terminated when your loan balance is scheduled to reach 78% of the home’s original value, as long as your loan is current.
Need help?
If you have questions about PMI or your mortgage options, connect with a mortgage loan officer for personalized guidance.
An NMLS ID is a unique identification number assigned to mortgage loan originators and mortgage lending institutions through the Nationwide Multistate Licensing System & Registry. It helps identify the person or company handling your mortgage and supports transparency in the mortgage process.
Why it matters
An NMLS ID allows consumers to verify the identity and licensing information of a mortgage professional or lender. It can also help you confirm who you are working with when you review mortgage advertisements, emails, disclosures, and loan documents.
Where you may see it
You may see an NMLS ID on mortgage websites, marketing materials, email signatures, loan paperwork, and other mortgage-related communications. If you want to look up a mortgage professional or lender, you can search the NMLS Consumer Access website.
Need help?
If you have questions about an NMLS ID or want help identifying the mortgage professional working with you, call 844-700-7328 during business hours.
- Freddie Mac Fixed Rate
- Fannie Mae Fixed Rate
- Adjustable-Rate Mortgages
- Home Possible (Freddie Mac)
- Home Ready (Fannie Mae)
- Construction
- Super Conforming
- Zero Down Purchase Program
- Doctors Advantage Fixed Mortgage
- Doctors Advantage 7/1 ARM Mortgage
- Mortgage Refinance
When you apply for a mortgage with People Driven Credit Union, you will generally need documents that help verify your identity, income, assets, employment, and insurance information. Having these items ready can help move your application along more smoothly.
Documents you may need for a PDCU mortgage application
- Copy of your driver’s license or state-issued ID, to verify your identity and legal name
- Last 2 years of W-2 forms, to review your employment history and income consistency
- Most recent 30 days of pay stubs, to confirm your current income
- Last 2 years of federal tax returns, including all schedules, to help review your full financial picture
- Most recent 2 months of bank statements, including all pages, to verify assets, down payment funds, and available reserves
- Contact information for your homeowner’s insurance agent, if applicable, to help prepare for closing and insurance requirements
Why these documents matter
These documents help People Driven Credit Union review your mortgage application and determine whether you meet program and underwriting requirements. Depending on your loan type or financial situation, additional documentation may also be requested.
Helpful tips
- Gather your documents before you start the application
- Make sure bank statements include every page
- Use clear scans or photos if you are uploading documents
- Be ready to provide additional information if requested
If you have questions about what to prepare or want help getting started, connect with a mortgage loan officer for additional guidance.
How long to close on a house? Give us a call at the number below.
Whether you are buying your first home, moving up, or buying before you sell, People Driven Credit Union has the mortgage products and the team to help you close with confidence. Here is where to start.
Explore Mortgage Options
PDCU offers fixed rate mortgages, adjustable rate mortgages, FHA loans, VA loans, Zero Down mortgages, and Bridge Loans for eligible Michigan members. Compare your options and find the right fit for your situation.
Explore Bridge Loans
Need to buy before you sell? A PDCU Bridge Loan lets you tap your current home’s equity to fund your next down payment so you can make a stronger offer and move once. Primary residences only. Subject to credit and property approval.
Talk to a Mortgage Loan Officer
Michelle Dzon is PDCU’s mortgage loan officer at Member First Mortgage. Call 616-301-1714 or email michelle.dzon@memberfirstmortgage.com to discuss your situation and get a clear picture of your options before you apply.
All mortgage and Bridge Loans subject to credit approval, property qualification, and membership eligibility. Bridge Loans available for primary residences only. If next home purchase is financed, financing must be through People Driven Credit Union. Rates, terms, and conditions may vary. Member First Mortgage, LLC NMLS ID# 149532. Michelle Dzon NMLS ID# 401292. People Driven Credit Union NMLS #776727. Equal Housing Lender. Federally insured by the NCUA. how long to close on a house
