How long does it take to close on a house?

Closing is the final step of the homebuying process. It’s that last thing that stands between you and finally getting the keys to your new home. 

But closing takes time. And it’s important to know what to expect from the closing process—especially if you’re a first-time home buyer. Find out how long it takes to close on a house, what can delay closing and what buyers can do to speed up the closing process. 

Key takeaways

• On average, it takes 48 days to close on a house, according to ICE Mortgage Technology. 
• Closing typically takes longer for buyers financing with a mortgage than it does for people buying in cash. 
• Low appraisals, difficulty securing financing, changes to the buyer’s income or credit, problems found during the title search, and unmet contingencies may delay the closing process.

It takes an average of 48 days to close on a house, said ICE Mortgage Technology in June 2022. But that’s just an average. Many factors can affect the closing timeline. 

Closing generally starts once the seller accepts the buyer’s offer. But the buyer’s work isn’t done yet. Before closing day, you’ll need to take care of things like scheduling a home inspection, sending your lender the documents it requests and choosing a home insurance policy.

Your real estate agent, mortgage lender or closing agent may be able to help guide you through the closing process. That way, you won’t miss any important steps or unintentionally delay closing day. 

Closing time with a mortgage vs. cash

One potentially important factor that may affect how long it takes to close is whether you’re buying with cash or using a mortgage. 

Before approving a buyer for a loan, mortgage lenders do things like evaluate the buyer’s creditworthiness and order a home appraisal. And that takes time to complete.

Plus, there are different types of mortgages, each with its own requirements. Closing may take longer for a buyer using a government-backed mortgage than for a buyer using a conventional mortgage, for example. 

Buying with cash can dramatically speed up the closing process. Using cash instead of a mortgage means you don’t have to wait for a mortgage lender to evaluate your credit, order an appraisal and approve you for a loan.

On closing day, the buyer meets with a closing agent to sign the paperwork, pay the down payment and finalize the sale. It’s an exciting day when the buyer gets the keys to the house and becomes the official owner.

Closing day typically only takes an hour or two. But if any issues arise, it could take longer.

There are a few common causes of closing delays. Knowing what they are—and how to avoid them—can help closing go as smoothly as possible. 

A low appraisal

The home appraisal helps the mortgage lender determine how much a home is worth. Lenders want to make sure that the home is adequate collateral to secure the loan amount. 

If the appraisal shows that the home’s value is lower than the sale price, the buyer will have to either renegotiate the sale price or cover the difference in cash in order to move forward, which could delay closing.

Difficulties with financing

Securing a mortgage can be a lengthy process. Lenders typically need to review a lot of information and documents to approve an applicant for a loan. And they won’t be able to clear a buyer for closing until they have everything they need. 

Changes to credit or income

If you’re in the process of buying a home—or thinking about starting the home search soon—it can be a good idea to avoid making big purchases or opening new lines of credit. 

Large purchases, like appliances, that are paid off in installments can impact your credit scores. And opening new lines of credit—like personal loans or car loans—can also impact your scores. Having a lower credit score can affect the loan amount and interest rate you’re offered. 

Lenders also want to make sure you have enough steady income to cover your monthly mortgage payments. So leaving a job or having a change in your income could slow down the process. 

Failing to provide proof of homeowners insurance

You’ll need to provide documentation that shows you have a homeowners insurance policy to close on the property. Failing to secure insurance could cause a delay.

Issues arising during the title search

If there are any liens or ownership disputes on the property, they’ll typically show up in the title search. Until they’re resolved, the buyer won’t be able to close on the house. 

Unmet contingencies

Both buyers and sellers can add contingencies to the purchase contract. If the contingencies aren’t met in time for closing, it could lead to a delay. 

One common contingency is an appraisal contingency, which lets buyers back out or renegotiate if the appraisal comes back lower than expected. Or the buyer might have a contingency that they won’t close on the new property until their previous home is sold. 

Requests for repairs

If any issues are discovered during the home inspection or final walkthrough, you may choose to request that the seller fix them before closing. You may also be able to renegotiate the contract or ask for credits from the seller. If it’s a buyer’s market, you’ll typically have more leverage to make these kinds of requests.

Here are a few things the buyer can do to help make the entire home buying process as fast and smooth as possible. 

1. Check your credit. You can get free copies of your credit reports from each of the three major credit bureaus—Equifax®, Experian® and TransUnion®—by visiting AnnualCreditReport.com. You can also monitor your credit with CreditWise from Capital One. Or use the Simulator to see how borrowing money to buy a house might affect your credit. CreditWise is free for everyone, and using it won’t hurt your credit. 
2. Get pre-approved. Getting pre-approved for a mortgage can help you estimate how much house you can afford. And that can help narrow your search. Plus, the lender will already have some of the information they need to ultimately approve you for a loan, which could speed up the process.
3. Schedule the home inspection right away. Home inspectors can get busy, especially during peak homebuying seasons. So it’s a good idea to schedule the home inspection as soon as possible after the contract is signed. That way, you and the seller will have time to address any issues without delaying closing.
4. Have a plan in place for a low appraisal. If the home appraisal comes back lower than expected, will you want to move forward? How will you renegotiate or cover the difference if so? Having a plan in place can help avoid last-minute scrambling.
5. Stay organized. Make sure you have all of the documents you need organized and ready to go. And when your lender or agent asks you to send or sign any documents, respond as soon as possible to keep the process moving forward.
6. Avoid new credit and large purchases. Opening a new line of credit or making a big-ticket purchase could impact your credit scores and change things like the interest rate and loan amount a mortgage lender will offer you. So it’s a good idea to avoid them immediately before and during buying a home. Don’t forget that you can use the CreditWise Simulator to see how certain actions might affect your credit scores.

All home closings don’t follow the same timeline. Some closings could take as little as a week, while others may take months. 

How long it takes to close on a house depends on things like whether you’re buying with cash or using a mortgage, the type of mortgage you’re using, and whether you hit any snags along the way.

Just starting your home search? Learn more about what to look for when buying a house.