The first step is to speak with a lender and get a pre-approval. This will tell you, and potential sellers, how much you can afford.
Typically, it takes about 30-45 days once contracts are signed to complete the lending, appraisal, and inspection processes.
A buyer’s agent will negotiate terms and manage the closing process from start to finish.
Nothing. The seller’s agent gives the buyer’s agent a portion of their commission from the seller
– A 620 FICO score or higher is required for most home loan programs. Talk to a lender for other options for lower scores
It varies. FHA loans start as low as 3% and most lenders offer standard programs for a 5% down payment. You will also need additional funds for closing costs and reserves. It's best to discuss the details with a qualified lender.
Closing costs and loan origination fees will add another 2-4% to the costs.
Your agent will work with you to build in contingencies for condition, loan terms/approval, and other protections to allow you time to evaluate the home during escrow.
Unless you’ve negotiated extra time for the sellers to move, you’ll get the keys at the closing.
Trust the experts and ask lots of questions.
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