What is the time frame to close on a house from start to finish once you submit an offer?
The time it takes to close on a home — from start to finish — can vary, but here’s a clear breakdown of the typical timeline and what affects it:
🕒 Average Total Time
30 to 45 days is standard for most financed home purchases (using a mortgage).
1 to 2 weeks is possible for cash purchases, since there’s no lender involved. During this process you are waiting on title and inspections.
📋 Typical Steps and Time Frames
⚙️ Factors That Can Speed Up or Slow Down Closing
✅ Cash buyer: No loan process = much faster (7–14 days).
🚫 Loan issues or appraisal delays: Can add 1–3 weeks.
🏡 Title problems or repairs: Can delay closing until resolved.
📑 Buyers and sellers being responsive: Quick document turnaround helps keep things moving.
What types of programs are offered to help get buyers into homes?
Different banks offer different programs to help with home ownership. Below are a couple options homeowners can look at.
Wheda in Wisconsin offers you 100% financing with their Down Payment Assistance Programs. If you would like more information on these programs please reach out to me or Katie Strom with Prosperity Home Mortgage. Katie’s number is 651.468.5127, email katie.strom@phmloans.com
Below is a down payment assistance program offered through Western Dairyland.
Is there a typical down payment needed?
The typical down payment for a home varies widely depending on loan type and buyer circumstances:
0% Down: Available for VA and USDA loans, typically for veterans or rural properties.
3%-5% Down: Conventional loans start at 3% for first-time buyers, while insured conventional loans require 5%.
3.5%-10% Down: FHA loans need 3.5% with a credit score of 580+ or 10% for lower scores.
20% Down: Avoids private mortgage insurance (PMI) but is not mandatory.
Another loan option in Wisconsin is Wheda, Wheda is a down payment assistance program that helps buyers with their down payments.
The median down payment in 2024 was 8%, or $26,700