• 07 FEB 17
    • 0
    The Mortgage Process Simplified

    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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