Refi Appraisal Timeframes

[mindfold]

I am in the very beginning of a refi on my house. I am a bit late to the party but better late than never. Anyone have recent experience with this process? I am being told 60-90 days to complete.

That sounds insane but these are insane times.


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[hollohas]

I did not long ago. Appraisal was waived. Took about 45 days start to finish.

[brutal]

Wow, 60-90 days?

I too am late to the refi party, though I did so just 2 years ago, rates are still nearly a point lower. I should have done something in Feb. If I can bypass an appraisal, it would incentivize me more to pull the trigger.

[Eric P]

Last year I started in March closed August.

[kwando]

I just refinanced, did not take any equity out. Was just to lower rate and shorten the term. And we closed in less than 2 weeks

[Sawin]

I refi’ed in March 2020 as the pandemic went into full gear. Even still it was less than 30 days, something like 25 if I recall correctly.

edit - I failed to mention we did not need an appraisal so it was faster.

[Irving]

My brother's refi took a few months.

[emiller35]

Being in this space professionally, those are accurate timelines. 60-90 from application to closing isn?t terrible. Depending on loan product some lenders are bumping up to 150 days plus.


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[Doc45]

Started two weeks ago, was advised I should close by the end of June-all info needed/appraisal submitted/all of my paperwork has been completed and submitted.

[scratchy]

We refied in January. It was less than 28 days start to close.