Expect Longer Loan Closing Time

I just talked to my bank today and found out that home loans have been taking longer to close lately.

Generally, closing for home purchase with mortgage is 45 days or less. According to my mortgage lender, home loans have been taking up to 60 days to close, 15 days or 2 weeks longer than used to.

They states this is the result of the influx of purchase from all the Kakaako condo purchases slowing the system.

So, homebuyers and home sellers beware of such delay, and manage your cash flow accordingly.

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