| 815-235-2111 | 815-616-5311 ask@choicerealtyfreeport.com

The Home Buying Timeline

If buying a home is on this year’s To-Do List you may be wondering exactly how long it will take. There is no magic number of days that I can give you, because there are a lot of variables that go in to purchasing a home. On the average it takes about 60 days from offer to closing, but that too can vary depending on your specific situation. To give you an idea of the process involved I will try to summarize the steps you need to go through and the timeline that you should follow. The first step is critical to the success of the process and should be your first stop. Get pre-approved with a local lender. Everyone gets excited at the prospect of finding a new home and your first instinct is to run out and start looking at properties. Resist the urge and visit your lender first! This is the only way you will know how much of a house you can afford and what kind of mortgage you qualify for. Both of these things are crucial to the process. Looking in the wrong price range can set you up for disappointment, wastes valuable time and isn’t fair to the sellers that think you are a potential buyer if you can’t afford the home. There are also specific things that the property must have to qualify for certain types of financing. For example, if you are pre- approved for a USDA rural development loan, that foreclosure property that you have your heart set on probably won’t qualify for this type of loan. Knowing the price...

Pin It on Pinterest