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Why Does It Take so Long for My Loan to Close? - Quicken Loans Zing Blog

You’ve made the offer on a house that’s just perfect for you. The seller has accepted it, and now you just can’t wait to get the keys. So why is it taking 30 days to close this loan?

Here at Quicken Loans, we have a mission to make your mortgage process as simple as possible. Nevertheless, there are a lot of moving pieces along the way. Sometimes things take just a little bit longer than one might think.

We’ll go over some of the pain points, but there are also things you can do to smooth out the bumps in the mortgage road.


One of the biggest things you can do to help your mortgage process along is to have your documentation ready up front.

There’s some basic documentation that’s pretty common with most mortgage processes. Here’s a list that I like to think of as the terrific trio of mortgage documents:

  • Two years’ worth of W-2s
  • Two years’ worth of tax returns
  • Two months’ worth of bank statements

These are very important for showing your income. Now, if you own 25% or more of a business, you’re considered self-employed, which comes with its own set of documents. And if you’re retired, your income would be documented through items like award letters and 1099s.

In addition to income, you also need to document any assets – whether these are used for your down payment or to pay off outstanding debt – that you want to liquidate in qualifying for the mortgage. This would typically be documented through statements.

Your lender will also need to verify any large deposits they see in your account that aren’t supported by your income documents. What qualifies as a large deposit depends on the type of loan you’re getting, but it’s within the underwriter’s discretion to ask about any deposit.

If any of your documents are mailed to a different address than the one you reported to the lender, a letter of explanation, and possibly additional documentation, will be required to verify your application is accurate.

Special Situations

The documents listed above are the basics, but there are many situations in which an underwriter would need to see more information from you.

Ron O’Connor, a divisional vice president at Quicken Loans, took us through some of the bigger documentation reasons that cause a loan process to be delayed.

“Some clients have specific situations such as past bankruptcies, foreclosures, previous judgments, old tax liens or divorces,” he said. “Having the documents related to these events on hand is important, as we may be requesting them through your loan process.”

If you have any collections or things showing up on your credit report that have already been taken care of, your lender may also request documentation on those as well.

If you’re receiving the down payment as a gift, you’ll be asked to provide a gift letter as well as evidence of withdrawal and deposit. If it’s an FHA loan, the donor will also have to provide a bank statement showing the funds have been in their account for at least 30 days.

Finally, if you’re a veteran, active-duty service member or surviving spouse qualifying for a VA loan, you’ll need to show your certificate of eligibility.

These are common documents that may be necessary. There may be other items that come up depending on your situation and the type of loan you’re applying for. The most important thing to remember is to get your documentation in as quickly as possible in order to expedite your loan process.


Another reason for a delay in your mortgage process is the appraisal. A common misconception is that the lender performs the home appraisal, but this isn’t true. In reality, appraisals must be completed by a disinterested third party.

The good news is these independent appraisers are experts in their field: They have to pass an examination and work as an apprentice, which requires about two years of work in the field. They also must have a four-year college degree. There’s a shortage of appraisers in some areas right now, particularly in rural areas of Oregon, Colorado and Washington.

After the appraisal and home inspection are complete, the house may need repairs made to it before you can move in, which might delay your closing date.

If the appraisal comes in lower than your offer, you have a few options. You can renegotiate with the seller to buy the home for the appraisal price. This could take a few days. You might also consider bringing the price difference in cash to the closing table.

A third option is to work with your lender to appeal the appraisal. If you can find comparable properties in your area, you may be able to get a higher valuation on appeal, saving you money in the long run. However, this will delay your time to close on your new house.

Title Issues

One of the other big things that causes closing delays is title problems. If there is a judgment or any other kind of lien on the property, it’s helpful to know about that up front in order to help you close the loan in a timely manner.

If the property is in a trust, sometimes it needs to be taken out; in other cases, liens on the house have to be reworked so that they take second priority to the mortgage.

We definitely aim to get your loan closed as fast as possible. The real key throughout the process is efficient communication, and we’ll be with you every step of the way. You can always reach out to a Home Loan Expert before you put an offer in on a home so you know what documentation might be needed ahead of time to avoid surprises.

If you think you’re ready to move forward, you can get in touch with one of our Home Loan Experts or call (888) 728-4702. If you have any questions, feel free to leave them for us in the comments below.

This Post Has 44 Comments

  1. I have to believe in this mortgage company. They have the means to involve everyone to interact with the processing off the mortgage processing to have a smooth closing.
    Personally I am happy with my experience.

    1. Were very glad to hear it, Donna! Have a great day, and here’s to seeing you at the closing table soon!

  2. Wow! I just read the reviews, now I’m nervous. Our house closes on April 13th, new house estimate is April 23rd. I feel it’s moving along, I feel they’ve been reviewing home insurance for too long. Appraiser hasn’t been sent out yet. I’m quick on every document they ask for so we will see. I will come back and give a solid review since a lot of these are older one.
    Praying they get it done on the first estimate close date of April 19th.

    1. Hi Linda:

      I certainly understand your nervousness. I’m going to get this to our Client Relations team to make sure you get an update. We’ll see to it that your process goes as smoothly as it can. We’re working for you to have the best experience possible!

  3. I’m going to sound like a broken record here. We’ve been waiting for months for a VA refinance. The interest rate lock has expired twice. I’ve provided all documentation asap. I’ve reached out to see if we are close to a closing date and I get the same info I got off the website. The title company has submitted all information and there has been no issues with anything we’ve submitted to include the appraisal. Currently the site shows they are trying to verify my employment and property taxes. Well wouldn’t you think the 15 latest paystubs would prove I’m employed? And property taxes aren’t gonna change but once a year. Regretting we didn’t just stick with Chase.

    1. Hi Lori:

      I’m sorry to hear you’ve had this experience and I’m going to get this to our team. We’ll do everything in our power to move your process forward. Thanks for reaching out!

  4. My loan is stuck! There are multiple reasons 1) the money to close is off by about $5k because they did not calculate my property taxes correctly (summer and winter were identical which is impossible) and this has been incorrect for 2-3 weeks with zero remedy 2) they don’t see my Cash Management Account at Fidelity as a bank account…it’s the only bank account I use which is clearly in my bank statements 3) they need condo information they already have if they would read the paperwork they received. I get zero assistance from anyone. I’m very disappointed in the lack of attention to detail, lack of training, and lack of customer service. Please help!

    1. Hi Dianna:

      Client experience is very important to us and we want to look into your situation. Thank you very much for taking the time to reach out!

  5. Same here. Started this process in June. Have had my first payment due pushed back 3 times. Here it is 4 months later and I still haven’t closed. If I weren’t on the hook for the appraisal etc. I would terminate this refinance. Totally unacceptable.

    1. Hi James:

      I’m sorry to hear that your process has taken so long. I’m going to get this to our Client Relations team to see if we can move your process along or give next steps on what you can do to move forward. Thanks for contacting us!

      1. This has been the worst experience ever! We have been working with Rocket since February and all was well until it came time for the appraisal. Our house is a new build and rocket sent the appraiser over too early, before the House was finished. We didn’t even have the final purchase price yet. The appraiser valued it less than it was selling for because the house wasn’t done and wouldn’t change the value after the house was complete…instead insisting we order a whole new appraisal. So we did….3 days before we were supposed to close. We have now been waiting on this second appraisal for two weeks and just found out it has come back with errors and the appraiser needs to fix it further. This has caused us to miss a second closing date. There are always zero answers from Rocket and no one is working hard to get this process wrapped up so we can move on to underwriting and actually close. We are just in limbo. We are now afraid that after the appraisal finally does come back, Rocket will take even longer to get us to closing. They won’t even give us a close date now. When I call, I get the run around and no one seems to care that this is effecting a lot of things in our life. There is zero sense of urgency in getting us to closing. Do NOT use Rocket! Go with a small reputable bank where you can work with the same person through the whole process. We wish we would have used our builders lender. We would be living in our home by now. Such a sad process. Train your people, Rocket.

        1. Hi Megan:

          The appraisers we use are independent contractors by necessity. If they weren’t, it would be a conflict of interest. That said, this certainly doesn’t sound like a good experience and we would like to look into what’s happening here. I appreciate you reaching out!

  6. Why is this taking so long? I chose to refi as I had lost a portion of my income and was looking at having to get into my 401K. I was assured this was to be a speedy process. Well over a month now, got the appraisal within days and was mighty good. Just been stalling for about 3-4 weeks now. If this does not take place soon, I will have to to get into my 401 k.

    1. Hi Don:

      I’m going to get this to our team to look into and see if there’s anything we can do to get your process moving. Thanks for reaching out!

  7. I am frustrated because I’ve never been given a closing date although all my documentation is in. It’s been over 30 days now since I applied for the loan and still no closing date. Wierd. I have heard that it can negatively effect your credit score if a loan is open more than 30 days. Frustrated!

    1. Hi Jacqira:

      As far as the credit piece, that can depend on the credit model being used to look at your score. With some models, the time frame for credit inquiries can be longer. If you’re a Quicken Loans client, we can give you an update and figure out the best way to help you move forward. I’m going to get this to our team! Thanks for reaching out!

  8. Going insane trying to communicate with you guys trying to get a closing date the rocket has ran out of fuel just keep getting transferred and then the chat disconnects. Every time i deal with you guys it takes a hour or 2 this is insane. Ready to find a new lender.

    1. Hi Zac:

      This is definitely not the experience we want our clients to have. I’m going to get this to our team and make sure we get you an update as soon as possible. We appreciate you reaching out!

  9. I am going through this process now as we speak. I am starting to second guess it based on the reviews. I have already gone through the process of having to upload more than one document over and over, but my appraisal was done last week and I got it back the end of last week. I thought that was pretty fast, but at the same time they have had all of my insurance info for a while and are still reviewing it as well as, employment verification, in which I have sent multiple times. Maybe they will change my mind and we will close when we are supposed to!

    1. Good afternoon, Paul:

      I’m going to get this to our team so we can make sure that we check in and keep you on track throughout this process. I understand your concerns, and we certainly appreciate you reaching out!

  10. Really wish we would have paid more attention to the negative reviews with this company instead of just going off of all the great ones. The first person we were working with was wonderful! After the initial application process we were sent to another “purchase specialist” HA, who is anything but great. Any request we’ve had to upload documents on the online portal were uploaded within the hour, every time. Then they would spend days in a review period only to be asked for the same documents again and again. Our online portal has so many of the same documents uploaded, they cannot sift through things to find what they need. Our closing has been pushed back twice already due to documents that they already received and closing is now scheduled for next week however, we do not have much confidence that it won’t get pushed back again. This is my third home loan and I have NEVER had to deal with a company like this.

    1. Hi Sara:

      I’m sorry to hear you’ve had this experience. I’m going to get this to our team to look into the issues you’ve brought up. Thanks for reaching out, and will keep an eye on this to make sure it stays on track. Thanks!

    2. Same here. Our closing date was just pushed back for the second time… the day before. This is the epitamy of bad buisness. Not happy with loan company choice.

      1. Hi Pierre:

        I’m going to get this to our team. I’m sorry you’ve had this experience, and we’ll be keeping an eye on this to get you to the finish line. Thank you for reaching out!

  11. How long is the process suppose to take? My son signed is contract in October, its over 2 months ago. The first person he was dealing with was good, very helpful, and knowledgeable. This next step not so lucky. She doesn’t et back to him, when she does its not helpful. He recently called and spoke with someone else because she didn’t answer or call back and she had an attitude about it. His lawyer called her and hours later when she called back said she couldn’t talk to them. Said they need to contact quicken attorney. She has asked for the same papers several times, papers that were given back in October that after sending them again 2/3 times then they are good enough. What can be done? Its the Holiday time he would like to be in his house already. He feels like if he says anything to her she may hold the process up even more.

    1. Hi Stacey:

      I’m going to get this to our team to see if we can get this to our team to get more info and research the situation. Thanks!

      1. We are in the process of selling our home and the buyers are going with Quicken loans.The appraisal was done 10 days ago and appraisal is still not in according to quicken loans.We have sold several houses and its never been an issue or taken this long

        1. Hi Brenda:

          I’m going to have our Client Relations team reach out to you for the address of the property so we can look into this. Thank you for reaching out!

  12. There seems to be a pattern here. You would think a award winning company could figure out how to get people wanting to do business (wanting to spend their money with them)
    to a closing in a much more timely manner. I guess once the (victim) I mean customer has
    done all the work providing all the information and jumping through the hoops and putting up with all the aggravation, its just not worth starting over with another mortgage company. So I guess there is nothing to do but just wait like everyone else.

    1. We care about every client, every time. You should never feel as though your time is being wasted. I’m going to get this to our team to see if there’s anything we can do to help move your process forward. Thanks for reaching out!

    1. Hi Angela:

      I see that you’re working with us. I’m going to go ahead and send this over to our team to give you an update on your personal situation. Thanks for reaching out!

  13. Hello,

    I am sorry to hear that you all had such bad experiences with Quicken loans. I closed last week and had a stress free experience through the refinancing process with Quicken loans. From start to finish everything was clear and I always knew what I needed to do to get the loan moving forward.
    Tony W. was wonderful to work with. He explained all the paper work to me so that I knew up front what to expect. I commend all that worked with me through the loan process and thank you for such a job well done.

    Janet B.

    1. Thanks for sharing your thoughts, Janet! I’m going to pass this along to Tony. I know he’ll be glad to see it. Getting a mortgage can be difficult, but it’s always rewarding when we can help people get into homes and resolve issues that may come up. We’re with our clients every step of the way! It’s been a pleasure serving you!

  14. I am shopping for a no or low cost cash out refinance that will accept bad to fair credit and no need for income verif needed. I have a mortgage of $130,000 and the value was just appraised the middle of May 2018 at $634,000. My credit score is 583, maybe higher now. I
    need to lower payment and take out about $400,000 cash and lower interest rate with a fixed rate if possible. I am looking for a very fast loan process that whole loan approval to funding state takes under 30 days if possible. I have a hard money loan and am looking for a low fixed rate 30yr term. my payment currently is $2045.00 interest only at 10% payments for 2 years then a baloon payment of $130,000 at end of 2 yrs which is June 1, 2020 it will be due.

    please email me first any information you have that may possibly help my situation so I can review it before I decide what way to go.
    Thank you for your time and consideration.

    Melissa Kelemen

    1. Hi Melissa:

      I have gone ahead and removed your personal information from this public forum.

      We don’t do no income verification loans. One, there are strict regulations against that in today’s mortgage industry. More importantly though, we want to make very sure that we are giving you a loan you can handle. Therefore, we would verify both your income and any existing monthly debt payments you have along with employment and a number of other factors.

      While we can’t guarantee anything because every situation is different, typically, the refinance process takes as little as a few weeks. We can certainly help you look into your options for a fixed-rate loan. If you would like to go over your options, you can do so online through Rocket Mortgage or by calling one of our Home Loan Experts at (888) 980-6716. Have a good day!

  15. Rocket Loans….. huge nightmare. Underwriters never have enough information. This is by NO way a fast process. I would never do this process again…ever. The best way to buy a house is to go to a small , local bank, or save money and pay cash. Luckily, I Have a house I live in that is paid for and was looking for a second home. Not worth the hassle. RUN!

    1. Hi Eric:

      We never want to hear one of our clients has had an experience like this. I’m going to get this to our Client Relations team to see if we can get this turned around for you. Thanks for reaching out and giving us the opportunity to help.

  16. I’m having issues with my gift letter my Loan Officer told me to play it safe and write a gift letter for a few thousand more just incase I might need a little more for closing(He said” it shouldn’t be a problem”) now that the gift clear in my account and they see its for three thousand less then the Original gift amount written in the letter I’m having issues..Now the “Executive Purchase Specialist” says it might or might not be a problem so i’m going to have to speak with underwriting to see if its okay…A day passes by I email her to ask if she has heard from underwriting ..replies back “Unfortunately it takes 48 hours to hear back” no problem respond back two days later(which makes it three days from when we had the issue ..no response…now its one week later ..still no response .. its sad how when the customer is the one with the issue very fast to harass and call them multiple times but when its time to reassure the customer we are working on it ..no where to be found… this is so upsetting I pay $1050 to break my lease with my current apartment and I have to be out by June 30th and its about to be June1st and you guys can’t even tell me if were going to close atleast by the 23rd so we can have enough time to move…So now both parties are sitting here waiting for Quicken to give the okay to close…Time to start searching for other lenders that can close before I end up homeless.

    1. Hi John:

      I’m sorry to hear you’ve had this issue. We are going to look into it and get you back on the right track. Thanks for reaching out!

      Kevin Graham

    2. I feel the same way however in my case they want my money in my checking to be the same as my savings. With this being said, my loan officer says they need me to have a buffer in my accounts and keep depositing my paychecks. They put off my closing for a longer time frame and think that I am to hold that money for two more weeks.
      Personally I feel that underwriters have unrealistic expectations and are destined to set you up to fail in all your other financial obligations.
      Like I guess I need to not pay my car payment or feed my family or put gas in my car to get to and from work, etc… all while my money is in my account where I was told to keep putting it in and not spend it.
      So lets not make a car payment and show the underwriters that we are not being responsible in paying the debts we currently have? This makes absolutely no sense at all.
      I think they should have a time limit to get the approval accepted or denied. We have to stop what we are doing and get what they need ASAP! but they don’t have to do their part in return.
      By all means, this has no reflection on my loan officer as they are doing all they can as well as me, but the underwriters can take all the time in the world.
      Bad enough on us that our landlord failed to pay the mortgage and home sold in an auction and we are left to turn around and get out ASAP. With all that I am having to prove that since the home we were renting went into foreclosure, that I was not at fault and paid on time. They look at me like it went into foreclosure because we failed to pay? No, go back and do your job and read my bank statements where it shows I paid.
      Underwriters look at us as the bad guys in this situation and in reality, you want to see if I can afford to buy a home? Lets take a better look, I am current in all my bills, I am raising an autistic kid and two step kids, a husband who has to stay home with two unruly teens, I pay all the bills and pay the Ex to “Help the babies mama” so she has money to do things with the kids, oh yeah, I can afford a house because to top it off it all, I was supporting my landlord!
      Time for underwriters to do their job in a more timely and fashionable manor as they expect from us. It’s already been well over a month since we put or offer in and they accepted it.

      1. Hi Christina:

        I’m going to have someone look into this for you and see what we can do to turn around this experience. Thanks for reaching out!

        Kevin Graham

        1. Why you guys keep replying with the same answer?! “ sorry to hear that we will have someone look into it “ you guys are a joke .

          1. Hi Marco:

            We say that because we can’t get into people’s personal financial situations in the blog comments, but we do look into their situation and reach out. We try to treat your information the way we would want our information to be treated. I’m going to pass this along to see if there’s a specific issue we can help you with.

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