Refinancing your mortgage can be a smart move to lower your interest rate, switch to a more manageable loan term, or tap into your home’s equity. Whether you’re dealing with rising costs from an adjustable-rate mortgage or looking to adjust your loan to better suit your financial goals, this question naturally arises: how long will the process take?
In this guide, we explain the typical refinance timeline, what to expect at each step, and what can speed things up (or slow things down), so you can plan confidently.
Start your application here to get started on a refinance today.
- Here’s a look at the average refinance timelines in 2025:
- Fastest timeline: 10–15 days for streamlined refinances.
- Average timeline: 25–45 days, depending on lender efficiency and document readiness.
- Longest timeline: Up to 60+ days if there are appraisal or underwriting delays, or if your loan is more complex (like a cash-out refinance).
Typical Refinance Timelines
A mortgage refinance involves multiple steps from application and appraisal to underwriting and closing. While the process doesn’t happen overnight, many borrowers are surprised at how much they can control the pace with preparation and communication. The good news is that the average time to refinance is decreasing, thanks to improvements in technology and digital verification tools.
The average time to close a refinance loan is around 30 to 45 days.
Streamline Refinancing Timelines
Streamline refinances are designed for government-backed loans such as FHA, VA, or USDA loans.
Streamline refinances are designed to be quick and hassle-free (hence the “streamline” in the name) and oftentimes don’t require an appraisal, credit check, or income verification. Because of that, streamline refinances can be completed in as little as 10 to 15 days.
This makes streamline refinances ideal for homeowners looking to lower their rate or switch loan terms without tapping into equity.
How Long Does It Take to Get the Cash During a Cash-Out Refinance?
The time it takes to receive cash from a cash-out refinance typically depends on the lender’s process, the complexity of your application, and state-specific waiting periods. Here’s a breakdown:
- After Closing: You’ll usually receive the cash within 3-5 business days after the closing date.
- State-Mandated Waiting Periods: Some states, like Texas, have mandatory waiting periods (often referred to as a “right of rescission”), which can add 3 additional days before the lender can release funds.
- Total Timeline: From application to cash in hand, expect the entire process to take 30-60 days, factoring in loan approval, appraisal, and closing.
What Affects Your Refinance Timeline + Tips
The total time to refinance your mortgage varies depending on the lender’s efficiency and the borrower’s readiness. Knowing the main factors and how to reduce their impact can help you close more quickly.
1. Lender Shopping
If you decide to shop around for multiple lenders, expect the refinance process to take a little longer. Getting rate quotes from several lenders, waiting for responses, and comparing loan estimates can add one to two extra weeks before you even apply.
In contrast, working with your current mortgage lender can expedite the process since they already have your payment history, property details, and much of your documentation on file. However, comparing at least a few offers ensures you get the best rate and terms. Just be aware that this may slightly extend your overall timeline.
2. Lender Processing Speed
Each lender operates differently. Some have streamlined, fully online systems, while others depend on manual processing or third-party reviews. Ask your lender upfront for their average refinance turnaround time and how they communicate updates.
Tip: Choose a lender that offers digital document uploads and e-signing to save days of back-and-forth. A lender that advertises a mortgage app typically utilizes these services.
3. Documentation Readiness
Missing or outdated paperwork is one of the most common causes of delay. Be sure you have the following ready before applying:
- Recent pay stubs, W-2s, and tax returns from the past 2 years
- Bank statements for the past 2 months
- Homeowners insurance declaration page
- Current mortgage statement and payoff information
Tip: Upload all documents at once when you apply, and respond promptly to lender requests.
4. Appraisal Scheduling
Home appraisals can take anywhere from 3 to 10 days, depending on market demand. During high-volume purchase or refinance periods, appraisal wait times can double.
Tip: Ask if your refinance qualifies for an automated appraisal waiver, which can reduce your timeline by a week or more.
5. Underwriting Review
Underwriters verify income, assets, debt levels, and credit. For most borrowers, this step takes 3 to 10 business days, but it can stretch longer if additional documentation is needed, especially for self-employed borrowers or those with multiple income sources.
Tip: Avoid applying for new credit or making large purchases during the underwriting process. It can trigger new checks and extend the process.
6. Title and Legal Checks
Your lender must confirm ownership, review the title for liens, and coordinate with title and escrow companies. Delays may occur if issues arise, such as an outstanding lien that hasn’t been cleared.
Tip: Review your title report early and resolve any outstanding issues before applying.
7. Market Conditions and Rate Locks
When mortgage rates fall, demand for refinances spikes, often resulting in slower processing times across the industry. A mortgage rate lock is a lender’s commitment to honor your quoted interest rate for a set period — usually 30, 45, or 60 days — while your loan is processed.
This protects you from market fluctuations if rates rise before closing. Some lenders charge a small fee for extended rate locks (longer than 60 days), while others include it as part of your loan offer.
If your rate lock expires before your loan closes, you may need to re-lock at the current market rate, which could be higher. Staying on schedule with document requests and appraisal deadlines is key to avoiding added costs.
Tip: When you see a rate you’re comfortable with, lock it promptly. Most locks last 30–60 days, enough time for most to close comfortably.
8. Borrower Communication
Your responsiveness matters. Every unanswered email or delayed upload adds days to the process.
Tip: Check your lender portal daily and keep communication lines open.
How to Speed Up Your Refi Timeline
If you want your refinance done quickly:
- Gather all required documents before applying.
- Be responsive to any lender requests.
- Maintain a strong credit profile. Most lenders require a score of 620 or higher, but 680+ can secure better rates.
Refi.com requires a minimum credit score of 620. - Avoid opening new lines of credit or making major financial changes during the process.
- Lock in a favorable rate as soon as you’re comfortable with the terms.
The Bottom Line
Whether you are eager to quickly improve cash flow, liquidate home equity, change your loan’s term, or refinance before your variable-rate loan adjusts higher, refinancing a mortgage loan can take more time than you expect.
Exercise patience during this process, respond promptly to messages and requests from your lender, and expect a few snags in the road just to be on the safe side.
