How long does it take to re-finance a mortgage?

[Pathwalker]

How long does the process of re-financing a mortgage actually take, from start to finish? It has been so long since my husband and financed our mortgage that I can't remember. My Hubby says 2 to 3 weeks, start to finish, plus the 3 day wait after contract signing; but it seemed longer than that?
This will be a simple re-fi to a fixed rate for considerably less than the actual value of the property, so an appraisal may or may nor be necessary. We're in Michigan.

Thank you for your help! :-)

[ladjf]

1. If you ;mean the actual signing of the documents, about an

hour. Many loan institutions will send either a lawyer or notary public (depending on your location) to you home.

[Pathwalker]

2. No, I mean: how long AFTER you apply before

you get the actual money? We're applying this Friday; how long after that? I know that after the loan's approved, it takes some time - I'm just wondering how long after that. Here is Michigan, there's a 3 day waiting period after you sign the actual mortgage documents before you can get the money,but I'm wondering how long the PROCESS is - after you apply.

[Digit]

3. My last time took only two weeks for a re-fi.

But mine was a conventional, no doc re-finance.

[BOSSHOG]

4. We refinanced in June 2003

and from application to final close it was 30 days. I do believe that was a little long but the bank stated they were overwhelmed with requests at the rate at that time. We hit the jackpot - locked into 4.8% on 9 June 2003 and closed on 9 July. We needed an appraisal and every damn thing else which went along with it but it was worth lopping 4 percent off the mortgage. Good Luck.

[SarahB]

5. Just did it.

It took about a 5-6 weeks. We're going through a divorce, but didn't want to sell the house (he wanted it and I was ok with that), so it was appraised, re-financed, and I no longer own the home jointly, but I have my share of the equity. (I'm obviously moving very soon.) We had a bit of extra paperwork, etc. because of our situation, so I could see that perhaps it could be done in 3 weeks blocking those complications.