Due to the new mortgage disclosure rules, known as TRID (Truth in Lending Disclosure), the time to close on a property purchase via loan increased to 40.5 days in November 2016. In November 2015, loan closings averaged 36.7 days, according to the National Association of Realtors. The new mortgage rules changed the settlement process by adding new closing documents and timelines. Tom: Our local lender has still been able to close within 30 days, and as mentioned in previous reports he will pay for appraisals for any of our clients, thus saving a buyer $400 - $500.