Time to Close for Millennials Swings From State to State

The average time it took millennial mortgage borrowers to close a loan was 44 days in July, but swung from state to state, according to Ellie Mae®’s recently released Millennial Tracker™, a measure of millennial mortgage applications. Closing a purchase loan took 42 days, while closing a refinance loan took 46 days.
Time to close varied by state, with borrowers in California looking at a 37-day window and borrowers in New York looking at a 60-day window.
“Between the compet