How to configurable delay in search for a Type Ahead Search Component?

Summary:

I have a Search Component that shows suggestions to the user as he types. I want to add a delay to the service call.

Content (required):

Currently, I am using rawValue to make a Rest Call to the service for every keystroke. This results in too many REST Calls. 

Requirement:  I want to make the service call once the user pauses their typing for some period of time, rather than making a separate service call for each keystroke.

I am using a Transform.js file to add a query parameter to the service call.

There is a component called