The Mortgage Process Simplified
Navigating the home buying process can be more than a little overwhelming. But at Home Team Lending, we are all about helping you find your dream home for you and your family. To help simplify the entire mortgage process, let’s break down all the steps into three phases and go over them one by one:
Phase 1: Get Qualified and Pick Your TEAM, Then Start Looking
First, decide how much you can afford and what loan type you will be getting. Home Team Lending can help with this!
Next, find a qualified professional Realtor. Interview your agent and let them know what you are looking for.
Make your offer. Once this has been completed and you have seen the property you would like to purchase, you are ready to make an offer. If the offer or counteroffer is approved, you can proceed to Phase 2.
Phase 2: The Buying Process
The second phase of the buying process is all about getting to closing. Here is the estimated timeline and cost of the following steps:
Loan Application: ASAP
Inspection: $300-$500; Deadline: 14 days, Resolution: 17 days
Appraisal: $500-$750; Deadline: 35 days
Home Insurance: Deadline: 10 days
Walk Through: 40-43 days
Loan Approval: 40 days
Phase 3: Closing
The process is almost complete! Here is what is left after phase two:
Closing – Possession: 45 days
Good Funds – Transfer Utilities, Driver’s License
There are several steps to the mortgage process, but Home Team Lending is here to help you through each and every one of them. Contact us today at 970-336-1185 and we’ll make sure you feel confident to buy your ideal home.
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