17 Home Closing Delays and How You Can Avoid Them
HomeLight
JULY 31, 2020
Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). Interest rates can spike unexpectedly which can affect qualification if the loan is not locked, or the buyer’s credit score or income can change, causing the underwriter to reject the loan.
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