How long did it take to refinance your home?
ounlopez asked:
I filled out an application with Countrywide. They approved it, but I need an appraisal. They say it will take 45-60 days. This seems like a long time. Has anybody else done this recently? How long did it take?
Well, Countrywide was able to do everything on the phone instantaneously except the appraisal. Their fast track program meant they didn’t have to verify my income, which worked well for me. Being a current customer also gave me a better interest rate (4.7%). They say they have already requested the appraisal, and that an appraiser will contact me within 4 days. Knowing all this, I was surprised they said it would take 45-60 days to complete the entire loan process.
Alma
I filled out an application with Countrywide. They approved it, but I need an appraisal. They say it will take 45-60 days. This seems like a long time. Has anybody else done this recently? How long did it take?
Well, Countrywide was able to do everything on the phone instantaneously except the appraisal. Their fast track program meant they didn’t have to verify my income, which worked well for me. Being a current customer also gave me a better interest rate (4.7%). They say they have already requested the appraisal, and that an appraiser will contact me within 4 days. Knowing all this, I was surprised they said it would take 45-60 days to complete the entire loan process.
Alma
Tags: Fast Track, Loan Process, Track Program
May 28th, 2009 at 5:01 am
Matthew
I have not done it recently, but I believe it took 60 day’s from start to finish.
Not 60 day’s just to get the appraisal done.
May 31st, 2009 at 4:49 pm
Florence
I refinanced my home quite some years ago, and it worked out hugely to my benefit. It took about a month. Can you get the appraisal yourself from an estate agent? If Countrywide wish to do the appraisal themselves, maybe that is what is holding up the process. For me, the longest delays were at the legal end.
June 1st, 2009 at 3:29 am
Alice
I just refinanced my house at the end of December! The whole process only took 3 weeks …. from start to finish! Countrywide should have had an appraisal already done, but if they didn’t, then getting someone to your house should only take a day or two … NO MORE!
You haven’t closed yet, and if you’re not happy with their process & you’re not in a hurry, then I would encourage you to look elsewhere. Try Primary Residential Mortgage (they are online) Ask for Brian! He can refinance your house WITH NO MONEY OUT OF POCKET and you will actually get money back!!!!!