How long after underwriting receives title and insurance to close?


Generally, it takes about a week or two weeks for the underwriter to finish the title search and other related activities before they will issue the policy and you can close the transaction.

Now, if you are asking about a mortgage loan and how long after your documents reach the underwriting department of the mortgage company, it will also take around that time.

What happens is that the mortgage underwriter will review the documentation to ensure that everything is in place. The mortgage company would like to protect itself by ensuring that the property has no problems or existing claims and encumbrances. The underwriter will check your documents - tax returns, bank statements, income verification and title insurance policy. When there is a lender involved, the closing date of the property will depend on when the underwriting process is completed.

If you want a faster loan approval process, you can get a loan pre-approval. If you are not getting a mortgage but instead would be paying for the property in cash, the process will be shortened as you don't have to deal with the underwriting process.

There may be issues that may delay the closing or prevent it from happening. These are:

  • Additional debt that is discovered on the credit report of the buyer
  • Clouds on title
  • Change in marital status - for either the seller or the buyer
  • Judgments, liens or encumbrances that come out upon the updating of the title

Thus, if you want closing to be facilitated, you should make sure that there are no such issues.

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