Conventional Loan Timeline: Day-by-Day Processing Breakdown
Clean conventional files close in 21–30 days in Colorado. Understanding each stage helps LOs set accurate expectations with borrowers and Realtors.
Day-by-Day Timeline
- 1Day 1–3: Application, disclosures, document collection
- 2Day 3–5: File submitted to processing, DU/LP run
- 3Day 5–10: Appraisal ordered, title ordered, HOA questionnaire requested
- 4Day 10–17: Appraisal received, file submitted to underwriting
- 5Day 17–22: Conditional approval received, conditions collected
- 6Day 22–26: Conditions submitted to underwriting
- 7Day 26–28: Clear-to-close
- 8Day 28–30: Closing docs sent, CD signed, closing
How CTC Manages This Process
Conventional loans are CTC's highest volume file type. Our 21-day target is realistic for clean W-2, single-family files. Self-employed, condo, or rural files need more time — plan accordingly.
Frequently Asked Questions
What speeds up a conventional loan closing?
Clean W-2 income (no self-employment), single-family home (no HOA questionnaire delays), appraisal waiver (PIW/ACE), strong credit, and a borrower who responds to document requests within 24 hours.
What slows down a conventional loan?
Condo HOA questionnaire delays, low appraisal requiring ROV, employment change during processing, large deposits requiring LOE, and condition packages that get sent back piecemeal instead of complete.
What is DU and LP?
Desktop Underwriter (DU) is Fannie Mae's automated underwriting system. Loan Prospector (LP) is Freddie Mac's. CTC runs both at submission to determine the best execution for each file.