{"id":3786,"date":"2017-04-24T00:00:00","date_gmt":"2017-04-24T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/closing-timelines-get-even-shorter\/"},"modified":"2017-04-24T00:00:00","modified_gmt":"2017-04-24T00:00:00","slug":"closing-timelines-get-even-shorter","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/closing-timelines-get-even-shorter\/","title":{"rendered":"Closing Timelines Get Even Shorter"},"content":{"rendered":"<p>\n<\/p>\n<div readability=\"43.326495726496\">\n<!--\n\n<pre>-->  \n  <div property=\"dc:description\" readability=\"35.791452991453\"><!--paging_filter--><p>The average time to close on all home loan types dropped to 43 days in March\u2014the quickest pace since February 2015, according to Ellie Mae&#8217;s Origination Insight Report. A year ago, the average closing time was 46 days. Broken out, <a href=\"https:\/\/amazingproperty.com.ng\/blog\/fast-flexible-real-estate-loans-usa\/\">loans<\/a> to purchase a home took 43 days to close, and refinance loans took 43 days in March, down from 45 and 47 days, respectively, in February.<\/p>\n\n<blockquote readability=\"1.875\">\n<p>After closing: 7 Things Agents Should Do<\/p>\n<\/blockquote>\n\n<p>The share of purchase loans last month rose to 63 percent of total originations, up from 57 percent in February, according to Ellie Mae&#8217;s report. That marks their highest share since July 2016. &#8220;The purchase market continued to heat up in March,&#8221; says Ellie Mae president and CEO Jonathan Corr. He also attributed the drop in closing times to Ellie Mae <a href=\"https:\/\/amazingproperty.com.ng\/blog\/construction-loans-for-commercial-and-residential-builders\/\">lenders<\/a> who are automating more <a href=\"https:\/\/amazingproperty.com.ng\/blog\/mortgage-preapproval-guide-for-home-buyers\/\">mortgage<\/a> processes &#8220;to improve efficiency, quality, and compliance.&#8221;<\/p>\n\n<p>More borrowers are opting for adjustable-rate mortgages as well, according to Ellie Mae&#8217;s report. ARMs increased from 5.3 percent to 5.6 percent in March, which is the highest percentage in three years.<\/p>\n\n<p><em>Source: \u201cLenders Speed Up <a class=\"wpil_keyword_link\" href=\"https:\/\/amazingproperty.com.ng\/blog\/get-real-estate-loan-for-real-estate-investors\"   title=\"Loan\" data-wpil-keyword-link=\"linked\">Loan<\/a> Processing: Ellie Mae,\u201d Mortgage News Daily (April 21, 2017)<\/em><\/p>\n<\/div>\n  \n    \n<\/pre>\n\n<\/div>\n\n\n<br \/>[ad_2]\n<br \/><a href=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/L32h2T0huj4\/closing-timelines-get-even-shorter\"> link <\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The average time to close on all home loan types dropped to 43 days in March\u2014the &hellip; <a title=\"Closing Timelines Get Even Shorter\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/closing-timelines-get-even-shorter\/\"><span class=\"screen-reader-text\">Closing Timelines Get Even Shorter<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":3787,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,15239,12908,543,1329,604,408,312,41,818],"class_list":["post-3786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-chase","tag-home","tag-home-buying-guide","tag-loan","tag-loans","tag-mortgage","tag-mortgages","tag-property","tag-real"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/L32h2T0huj4","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/3786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=3786"}],"version-history":[{"count":1,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/3786\/revisions"}],"predecessor-version":[{"id":90465,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/3786\/revisions\/90465"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/3787"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=3786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=3786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=3786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}