How long Quicken Loan after appraisal?

How long Quicken Loan after appraisal?

Quicken Loans is a popular choice for many homebuyers and refinancers due to their streamlined application process and quick turnaround times. One common question that applicants have is: “How long does Quicken Loans take after an appraisal?” The answer to this question can vary depending on various factors such as the complexity of the loan, the responsiveness of the borrower, and the current volume of loan applications being processed by Quicken Loans. However, on average, Quicken Loans typically takes about 30 days from the time of appraisal to closing.

FAQs

1. How soon after the appraisal does Quicken Loans close?

On average, Quicken Loans takes around 30 days from the time of appraisal to closing. However, this timeframe can vary depending on a variety of factors.

2. Can Quicken Loans close faster than 30 days after the appraisal?

While Quicken Loans typically takes around 30 days from the time of appraisal to closing, they may be able to expedite the process in certain circumstances. It’s best to speak with your loan officer to discuss your specific situation.

3. What factors can cause delays in closing with Quicken Loans after an appraisal?

Delays in closing with Quicken Loans after an appraisal can be caused by a variety of factors, such as missing or incomplete documentation, issues with the property title, or delays in receiving necessary information from third parties.

4. Does Quicken Loans provide updates on the status of my loan after the appraisal?

Yes, Quicken Loans typically provides regular updates on the status of your loan after the appraisal. You can also reach out to your loan officer for updates as needed.

5. Can I request to expedite the closing process with Quicken Loans after the appraisal?

You may be able to request an expedited closing process with Quicken Loans after the appraisal, depending on your specific circumstances. It’s best to discuss your options with your loan officer.

6. Will Quicken Loans schedule the closing date after the appraisal?

Once the appraisal has been completed, Quicken Loans will typically work with you to schedule a closing date that is convenient for all parties involved.

7. How long does it take for Quicken Loans to review the appraisal report?

Quicken Loans typically reviews the appraisal report within a few days of receiving it. The timeline for reviewing the report can vary depending on their current workload.

8. Can Quicken Loans start underwriting before the appraisal is completed?

Quicken Loans may be able to start the underwriting process before the appraisal is completed in certain circumstances. However, the underwriting decision will typically be contingent on the appraisal results.

9. What happens if the appraisal value is lower than expected with Quicken Loans?

If the appraisal value comes in lower than expected, Quicken Loans may require a reassessment of the property or adjustments to the loan terms. Your loan officer will discuss the options with you.

10. How does Quicken Loans communicate the results of the appraisal to the borrower?

Quicken Loans will typically provide a copy of the appraisal report to the borrower once it has been reviewed. They will also discuss any implications of the appraisal results on the loan process.

11. Can Quicken Loans waive the appraisal requirement for certain loans?

Quicken Loans may waive the appraisal requirement for certain loans, depending on the loan type and other factors. Your loan officer can provide more information on appraisal waivers.

12. What can I do to help expedite the closing process with Quicken Loans after the appraisal?

To help expedite the closing process with Quicken Loans after the appraisal, make sure to respond promptly to any requests for information or documentation, and stay in regular communication with your loan officer.

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