Advertiser Disclosure » Mortgage » Refinance Rates » How Long Does it Take to Refinance Your Home?

How Long Does it Take to Refinance Your Home?

Written by Marc Guberti

Marc Guberti is a Certified Personal Finance Counselor who has been a finance freelance writer
for five years. He has covered personal finance, investing, banking, credit cards, business
financing, and other topics.
Marc’s work has appeared in US News & World Report, USA Today, Investor Place, and other
publications. He graduated from Fordham University with a finance degree and resides in
Scarsdale, New York.
When he’s not writing, Marc enjoys spending time with the family and watching movies with
them (mostly from the 1930s and 40s). Marc is an avid runner who aims to run over 100
marathons in his lifetime.

Updated May 14, 2024​

6 min. read​

how long does it take to refinance a house

The amount of time it takes to get a mortgage refinance varies for each person. The average mortgage takes 20-45 days to refinance, though individual lenders who do give a time estimate note that you should expect the process to take at least 30 days. It can even take as long as 90 days to get through the entire refinancing process, especially if your refinance is plagued with delays, which can vary from a change to your income to a change to your home’s value.

Loading... Loading...

How Long It Takes to Refinance a Home: Overview

On average, it takes 20-45 days to refinance your home loan. Most lenders do not give time estimates because there are so many factors that affect the process, but those who do say that it generally takes at least 30 days. Refinancing your home loan can take up to 90 days.

One of the common questions lenders get from homeowners is how long it takes to refinance a home. You may be considering a refinanced home loan for any number of reasons, including lowering your monthly payments by extending the term or getting a lower interest rate. Before you start the process, however, let’s take a look at exactly how long you can expect the refinance application and closing to take from start to finish.

Refinancing Length in a Nutshell

According to Jennifer Beeston, an expert from Guaranteed Rate Mortgage, every mortgage lender is different, but the average refinance takes 20 to 45 days. However, lenders such as Quicken Loans and LoanDirect note that the process typically takes at least 30 days.

Step 1: Your Own Research

The first step is to do your research, along with gathering the documents you need to move forward. How long does it take to refinance your home loan? The answer to that question starts with you! You may opt to do a brief amount of research over a few days or spend weeks on your research. During this initial step, you’ll want to estimate the current value of your home, check out the types of home loans available, read lender reviews, make a budget for the closing costs, and collect your documents.

To avoid spending too much time with research, consider speaking to mortgage professionals to get some of your questions answered. You can even directly ask: “How long does it take to refinance your home loan?” to get an estimate from specific lenders.

The lenders who process the highest number of mortgages, including refinances, are Quicken Loans, Wells Fargo Bank, JP Morgan Chase Bank, Bank of America, and Freedom Mortgage Corp; this is a good place to start.

Loading... Loading...

Step 2: Applying

After putting in the time to do your own research, it is time to choose a lender and apply. When you submit the application, be ready to choose the type of home loan you want, and be sure to fill out the application carefully since errors can slow down the process. Many lenders allow you to apply online, so it shouldn’t take more than a day or two to complete your application.

Step 3: The Approval Process

The next step falls on the mortgage lender’s plate. During this stage, your home will go through an official appraisal process, and you may be asked to submit more documents to assist with underwriting. This entire approval step can take several weeks. It is the part of the process that takes the longest, even if you are organized.

Step 4: Review Your Rate and Costs

You can lock in your interest rate at any time in the process, but be sure to do it before closing. Many lenders allow you to lock in your rate for 30, 60, or 90 days. After you’ve been approved, you’ll also want to closely review the closing costs due during the signing. Take a day to make sure there are no mistakes.

Step 5: Closing

Once you review the fees, it is time to schedule a date to sign the paperwork, which takes a few hours. During closing, you should also be prepared to pay any fees due.

Common Delays During Home Refinancing

Avoiding common delays when seeking a new mortgage can help you get a term refinance sooner. Changes to your income, employment, or credit history can present some roadblocks when you are going through the application process. An incomplete application, lack of cash, bad credit, or a lower home value can also make it more difficult to refinance.

Loading... Loading...

Other Factors that Impact Refinancing Time

These are some of the other details to keep in mind that can affect how long it takes to get a new loan term.

Influence of Credit Score on Refinance Duration

Borrowers with higher credit scores will have a shorter average time than consumers who have lower credit scores. Building your credit score before applying for a refinance loan can also help you get better rates and terms.

A lower credit score can also limit your refinancing options. You typically need a 620 credit score or higher to get refinancing with a traditional mortgage. Borrowers with lower credit scores may have to refinance with a loan from the Federal Housing Administration (FHA). It’s possible to get an FHA loan with a credit score as low as 500.

The Role of Home Equity in Speeding up Refinancing

Having more home equity will increase the likelihood of getting your current mortgage replaced with a new one. A lower home equity can result in more scrutiny and prolong the process.

The Impact of the Lender on the Refinancing Timeline

An efficient lender can get you through the process sooner. However, lenders that are short-staffed can take longer. Some lenders can complete the underwriting stage within a few days, while others can take a few weeks. Results vary, but lenders with quicker timeframes usually let people know that they offer quicker refinancing.

Refinancing with a reputable lender like Top Flite Financial can streamline the process and help you secure a new mortgage in a timely manner. Their experienced team understands the importance of efficiency and will work diligently to ensure your refinancing timeline is met. By choosing Top Flite Financial, you can trust that your refinance will be handled with professionalism and speed. Contact them today by filling out a simple questionnaire to learn more about how they can help expedite your refinancing process.

Loading... Loading...

Tips for Speeding Up the Refinancing Process

The refinancing process can take a lot of time if you are not careful. However, it’s possible to complete it in a month. These are some of the top tips that can lead to a speedy refinance.

1. Organization matters

Are your documents in order? Have your questions been answered? Are you ready to pay closing costs? The more organized you are, the faster the refinance process will be. Respond quickly to any inquiries from the lender.

2. Avoid any major life changes

If your documents change during refinancing, your lender may have to backtrack in the underwriting process. Avoid changes such as applying for loans and starting a new job. If you foresee any of these changes in your future, wait to apply.

3. Check your credit score for mistakes

Mistakes on your application can cause slight delays, but mistakes in your credit score can completely halt the process. Before you apply, check your credit report to ensure everything looks correct.

4. Don’t choose a slow-moving lender

When shopping around, directly ask lenders how long it will take. Most may say around 30 days, but some may say the process will take longer. Be wary of lenders who say it will take 90 days or more.

5. Keep it simple

The more complex your situation, the longer it will take across every step. Of course, some complexities cannot be avoided, but when you are choosing the type and term of your loan, consider that some options may add time to the schedule. When in doubt, ask your lender how your choice may affect the approval process.

The Benefits of Choosing a Reputable Refinance Lender

When you get a new loan with a refinance, it’s important to work with a reputable refinance lender. While you don’t want to work with a slow lender, you also don’t want to work with a sketchy lender or a financial institution that has high interest rates.

It is a good idea to check a lender’s online reviews before working with them. Websites like Trustpilot and the Better Business Bureau make it easier for consumers to see how past customers feel about a company. Doing this initial research can save you a lot of time and money.

These are some of the advantages of working out with a reputable lender for your cash-out refinance or any other financial product.

  • Reliable customer support: You can ask questions at any time and not be left in the dark. Some lenders have customer support during regular business hours, while other lenders offer 24/7 customer service.
  • Competitive rates: Many reputable lenders offer competitive rates for people who want to tap into their home equity. You can also reach out to multiple lenders to get different offers.
  • Many financial products: The best lenders usually have various types of loans and other financial products. It is a good idea to get financing from a lender that offers useful resources for your financial situation. Some lenders also offer credit cards and bank accounts.
  • Fewer fees: Every lender has fees, but you won’t have to worry about any sneaky fees if you work with a good lender.
Loading... Loading...

How Long it Takes to Refinance a Home: Conclusion

In conclusion, although you can expect the home refinance process to take 20 to 45 days on average, the safest bet is to expect it to take at least 30 days and as long as 90 days in some situations. How long does it take to refinance a home? Ultimately, the answer depends on your personal situation and the lender you choose.

FAQs About How Long Does It Take to Refinance a House

How fast can you refinance a house?

You can refinance a house in as little as 30 days. However, the timeline varies for each lender and other factors, such as your credit score, home equity, and the accuracy of the application.

How long does it take for a refinance approval?

A refinance approval can take 30-45 days, but the duration varies.

Is it hard to refinance a house?

It takes time to swap your current loan with a new mortgage. The difficulty of refinancing a house varies for each person. Your credit score, debt-to-income ratio, and home equity are some of the factors that contribute to the ease or difficulty of the process. Homeowners with lower credit scores may have to get FHA loans when they refinance.

Advertisement Disclosure

Product name, logo, brands, and other trademarks featured or referred to within are the property of their respective trademark holders. This site may be compensated through third party advertisers. The offers that may appear on’s website are from companies from which may receive compensation. This compensation may influence the selection, appearance, and order of appearance of the offers listed on the website. However, this compensation also facilitates the provision by of certain services to you at no charge. The website does not include all financial services companies or all of their available product and service offerings.