How Long Does A Refinance Take

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Refinancing a mortgage takes an average of 30 days. depending on your chosen lender and your situation, though, the time can vary. Depending on your chosen lender and your situation, though, the time can vary.

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The general rule of thumb for a new purchase loan is 45 days. Refinances generally go somewhat faster, and 30 days is usually a safe bet. However, while a cash-out refinance won’t often be much quicker than 30 days, it can be a good deal longer – sometimes taking as long as 90 days.

However, refinancing your mortgage isn’t necessarily a. From there, it’s helpful to do the math to calculate how long it would take you to earn those fees back. "It’s best to recoup that closing.

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The average refinance takes between 20 and 45 days, Beeston says. However, each lender is different, and there are plenty of variables that can speed up – or slow down – the process. In addition to asking lenders how long they take, it’s a good idea to read reviews of lenders you’re considering, as well.