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Average Time to Close a Loan Holds Steady at 49 Days

by | Jan 28, 2016

By Jeff Sorg, OnlineEd Blog

(January 28, 2016) -According to the latest Origination Insight Report released by Ellie Mae,® 2015 ended with the average time to close a loan holding steady at 49 total days. Ellie is a leading provider of innovative on-demand software solutions and services for the residential mortgage industry. While the average time to close a refinance fell from 49 days to 47 days, purchases climbed 1 day to 50. The average time to close FHA and conventional loans remained largely unchanged at 49 days, while VA loans increased from 50 to 52 days.


For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers, visit www.OnlineEd.com.

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