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| *Loan,banking and credit>>>mortgage loan |
What is the normal time period for a home loan? Mortgage etc.? |
What is the normal time period for a home loan? Mortgage etc.? If you're asking about the amortization period of your loan (the amount of time your payments are spread over) then the standard is 30 years. But it is not uncommon to be anywhere between 15 and 50 years. (Yes, there are 50 year mortgages now.) If you're asking how long it takes to process a loan, the standard is about 30 days, but a good broker or lender can get it done in 2 weeks. Source(s): 10 years in mortgage lending. In AZ, 30 - 45 days 15 years if you can afford it but most people get a 30 year mortgage 30 years Depends on which kind you get. You can get a 30 year fixed. A 3/1 or 5/1 ARM. I know people who have ARM's because they are lower interest and if this is your first home that you plan on selling in a few years, it's the best one to get. 30 years is standard, but lots of people do 20. Some are even doing 40, which is scary. |
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