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We signed the paperwork on a simple FHA refinance loan with FIL and MIL co-signing in MARCH and they are still telling us it is in underwriting and that we have to submit more paystubs because the ones we gave them in Feb are now "too old." DH is self employed, but come ON this should not be taking this long, correct?

We didn't get any money back, just refinanced for a better rate.

I know they are backed up, but I am getting ANNOYED!
 

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I don't think that is a "normal" amount of time. DH works in the mortgage industry and it usually takes a couple weeks, but can depend on the type of loan that is being refinanced and any stipulations the lender is requesting.
 

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It usually takes about 3 weeks I'd say, though our recent refi we are trying to close on has taken a bit longer, more like 5 weeks. They seem to be a bit overwhelmed with the recent low rates and spike in refinancing. we've refi probably 5 times now. But it isn't FHA, and FHA does seem to be problematic these days. My brother bought a house and ended up having to go 2 weeks past the planned closing date, which was months after the offer because the FHA loan kept requesting more things. I think they are being a lot more stringent now a days and that means requiring a lot more paperwork.
 

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OP, you have my sympathy. We're refinancing with our current lender, and we started back in March. Still hasn't closed. Get this: Our loan was through underwriting on May 15th! We're more than pissed.
 

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Our recent refinance just took about 3 months. Our rate lock expired during that time, but since it was the lender's fault it was taking so long, they extended it for us at no cost since rates went up in the meantime. I know the recent uptick in rates has been slowing down the refi activity and giving them a chance to get caught up.
 

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I can't say about a refinance, but a HELOC application last year that we were told would take two weeks ended up taking almost four months.
 

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Right now, that's not uncommon.

I was talking to a broker about a refinance about a month or so back, and she told me that underwriting on all the refis she was doing were taking 8-12 weeks, for the simple cases.

More if the case was more complex.
 

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5 months is a bit excessive, but if he's self-employed, that might be part of the problem.

We just closed on our refi, and it took just over 2 months. But I very specifically asked up front how long it would take in the current climate and I was told then that it would be 2 months - that's just how backed up everyone is. It may be that in your area (or with your lender), it's taking longer right now.
 

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Our last one took three weeks and only because they messed up the paperwork then sent the check to the wrong bank. We refinanced in April.
 
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