Benevolence Financial Group (BFG) is now Open Home Loan. Start home loan rate tracking and let Open automatically shop around for you – over your loan duration. When your ideal rate is reached, we’ll ask your bank to match it. Choose to stay or switch in minutes. No effect on credit score. Start for free.

How long does refinance take ?



< 1 Mins


Share this post

The time it takes to refinance a home loan can vary depending on several factors, including the lender you choose, the complexity of your loan, and how quickly you provide the necessary documentation.

In general, the refinance process can take anywhere from 30 to 60 days, although it can sometimes take longer if there are complications or delays. Here’s a general breakdown of the steps involved in a typical refinance process:

  1. Pre-approval: You’ll need to apply for a refinance loan and provide documentation of your income, assets, and credit history. This process can take a few days to a week, depending on how quickly you can provide the necessary information.
  1. Appraisal and title search: Your lender will need to appraise your home and conduct a title search to ensure there are no liens or other issues with the property. This process can take a few weeks.
  1. Underwriting: Your lender will review your application and documentation to determine whether you meet their lending criteria. This process can take a few days to a week.
  1. Closing: Once your loan is approved, you’ll need to sign the closing documents and pay any closing costs or fees. This process typically takes a few hours.

Overall, it’s a good idea to start the refinance process well in advance of when you need the funds or want to start benefiting from a lower interest rate. This will give you plenty of time to shop around for the best rates and terms and ensure a smooth and timely process.

Send Us a question

Have something in mind?