The Land Loan Process – How Long Does it Take?
How long does the land loan process take from application to closing? Answer – The average time needed to close a land loan is 4 weeks. This answer can vary tremendously however, based on several different factors. Below I have highlighted the main contributing factors for determining the land loan time line. 1. Pre-approval process 2. Appraisal time 3. Title work 4. Continual communication between borrower and land loan lender 1. The pre-approval process can vary greatly between land loan lenders. Land loans are unique loans and typically require a lot more information from the borrower than a conventional loan. The time required to get all information needed can be several days. If the land loan lender asks for all information right away and you are willing to give it to them, the process can be dramatically quickened. Once all information is received, the land loan lender must qualify you for the land loan. This could take no more than 48 hours, several days, or even weeks depending
