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Klayton Simmons

Sr. Loan Officer

NMLS: 1071204

"How Long Does It Take To Purchase a Home?"

Everyone has a different path to homeownership. Items like the type of loan you get and deciding on a real estate agent affect your timeline. But generally speaking, it takes about 30 – 60 days from start to finish to buy a home.

Let's take a closer look at the homebuying timeline so that you can better prepare for the exciting transition.

How Long Does It Take To Buy A Home - An Overview

Get pre-approved: 1 – 3 days.

Choose a Real Estate Agent: 1 – 14 days.

Find a home: Varies.

Get an inspection: 3 – 10 days.

Get an appraisal: 2 – 7 days.

Loan application to closing: About 30-60 days.

Getting Preapproved (1 – 3 Days)

During this phase, you'll start the initial process of applying for a home loan. You'll work closely with your mortgage professional to gather all the supporting documents required to verify your income, assets, and credit report. Thankfully, submitting paperwork and verifying your info is typically done through virtual means --making the process easier and faster.

Additionally, this is also the phase where the mortgage professional will discuss different scenarios, helping you to understand the various loan programs, your estimated payments, and break down the fees associated with purchasing a property. 

Selecting A Real Estate Agent (1 – 14 Days)

Finding an agent is usually easy. However, choosing one that you feel good about working with can be a little more complicated. Here are some pointers to help simplify the process: 

  • Make sure they are licensed.
  • Pick one that knows the market in which you hope to buy.
  • Ask if they can work with your schedule.
  • They should make you feel like your needs are understood.
  • You feel comfortable asking questions.
  • Choose one that has a personality and demeanor that makes you feel like you two "click."

It may take some time to find an agent you feel comfortable working with, but it's worth the effort.

Discovering Your Dream Home (Time Varies)

How long it takes to find your new home will depend on numerous factors, like:

The market. If there are plenty of houses available to choose from, placing an offer and negotiating terms may happen fairly quickly. However, if it's a seller's market, it may take more time since fewer homes are available for sale. A seller's market also means that bidding can get aggressive, and negotiations take more time.

The location of the property. When buying a home in a highly sought-after area, the competition is high-stakes. It can also mean that you may have to wait for a home to go up for sale, extending your timeline.

Your criteria.  The more particular and less flexible you are about the type of home you want to buy, the more you narrow your search pool. 

Making An Offer (1 – 3 Days)

Once you find the house, work with your agent to make an offer on the home. Some states require the seller to respond by 5 p.m. on the third day since you signed the offer. In other states where there isn't a set deadline, sellers will typically respond within three days.

If the seller counteroffers, then you can begin negotiating. Negotiations typically don't last longer than a few days. 

Although it may seem like 30-60 days is a long time to purchase a home, it goes by quickly --and with each milestone reached, the anticipation grows! Get started today by applying for a home loan with us, and we'll show you how a winning loan team can make the process faster and easier. 


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.