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Getting a mortgage loan means you’ll likely experience every possible emotion, especially when the mortgage seems to take so long. Unfortunately, a word commonly used to describe the home loan process is “stressful”.
When buying or refinancing a home, anxiety can come from a number of reasons. More often than not, it’s not knowing what to expect.
A common example of one of the unknowns is the amount of time it takes to get a mortgage. Add to it the notion of relocating your family and all your earthly possessions, regardless of the time it takes, the process can seem like an eternity.
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How long does it take to get a mortgage?
According to ICE Mortgage Technology (formerly Ellie Mae), the average purchase loan took 36.8 days from application to closing in March 2026, the fastest since ICE began tracking in 2019.
Across all loan types, including refinances, the same report put the average closing time at 38.2 days that month.
However, your loan can take longer than the average, largely due to the real estate market as well as the lending institution.
To an anxious home buyer, even a short 30-day turnaround can seem like an eternity.
Why does a mortgage take so long to close?
Generally, there isn’t just one answer to why your mortgage application is taking longer than your neighbor’s. Everyone’s situation is different.
There are a number of common explanations that can cause a longer time to process your application.
- Government-imposed mortgage rules. The Consumer Financial Protection Bureau’s (CFPB) ability-to-repay rule and its disclosure rules (known as TRID) still shape the way mortgage lenders originate home loans. It takes lenders time to document and verify a homeowner’s ability to repay the loan, and they must deliver your disclosures on set timelines.
- Appraisal standards. Pre-housing crisis, mortgage lenders had much more flexibility when it came to completing an appraisal. But appraisal standards changed significantly on a number of levels. Nowadays, appraisers and appraisal management companies must follow federal appraisal independence rules. This further delays an already time-consuming process.
- Title-related delays. Many homeowners don’t know everything that goes into obtaining a mortgage. Procedures such as making sure there’s a “clear title” to the property are important steps toward closing your loan. If there are any judgments or liens on the property, these need to be cleared up before you can close. Unfortunately, this isn’t always a quick fix.
- Stringent underwriting. Homeowners go through a number of screening processes. The underwriting process can be intense. Underwriters will often request additional documentation based on the initial documentation presented. Even the most seasoned loan originators can’t always anticipate the items a stringent underwriter will require.
Ways to speed up your loan closing
Fortunately, there are ways to be proactive with your home loan process.
Some things have changed in the application process for sure. However, you can almost always count on some “old faithful’s” when it comes to the documentation your lender will request.
It helps to have the following items readily available to your lender:
- Copies of driver’s licenses and social security cards
- Paycheck stubs from the most recent two months
- W2s from the most recent two years
- Most recent two years’ tax returns (all pages)
- Your most recent retirement account statements
- Bank statements from the most recent two months (all pages)
- Documentation to source any cash deposits into your bank accounts
- Contact information for your homeowners’ insurance
Your lender may request additional items, but having these items handy will save you lots of time.
Other things you can do to make your loan process go faster
One of the first steps to getting qualified for a loan is having your credit checked. You can get ahead of this one by requesting a copy of your credit report and clearing up any discrepancies that could hurt your chances of approval.
Lenders will need to verify a full two years of employment history. If you’ve had several jobs in the last couple of years, this isn’t an automatic deal-breaker, but it can cause delays if you don’t have all of the details ready for your lender.
You can get ahead of the curve by having all of the contact info and dates available so your lender can conduct all of the necessary employment verifications.
There will always be some areas that are out of your control when it comes to getting a mortgage loan. Just knowing this fact can bring some peace of mind. But being proactive and staying ahead of the process can help ensure a faster and smoother closing.
