Buying your first home can be extremely stressful. The key is to work with knowledgeable professionals who are going to position you for long term success. Real Estate Agents and Loan Officers are key to the home loan process. Most experts encourage buyers to do their research and get recommendations. Once a handful of professionals have been selected, sit down with each and interview them. Not only do you need to make sure they are skilled at what they do, but you also need to make sure their personalities mesh with you and your family.
Once a lender and realtor have been selected, it is best to have a group or team meeting. It can save valuable time and stress if you make sure your team is all on the same page. Communication is important so a good rapport needs to established from the beginning. Once your home buying team is in place with a plan, it’s time to get started.
Your lender's job is to help you pick the loan type that best fits your needs and budget. There are some great loan programs on the mortgage market including the VA Loan, Conventional, FHA, and USDA Home Loans. Once these things are established, your realtor will help you find the perfect house.
Your realtor will work to find homes in your price range in the areas you want to live. This can happen quickly or it may take some time depending on how flexible you are. If you’re willing to compromise on your home requirements then it will go faster.
Once a home is under contract, the loan process will begin. Processing time is typically around 30 days. During this time many things happen such as the home inspection, appraisal, and pest inspection. After the loan is completely underwritten, closing documents are sent to the closing company. After papers are signed on the day of closing the house is yours. While the process can be stressful, a good realtor and lender can make it much easier.<< Back to the list.
Start Your Quote →
Primary Residential Mortgage, Inc.
Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice.