Common Questions
How long does it take to buy a house?
It really depends. Some people look for two years, some for two weeks.
Pre-approval letters from your lender last for 90 days and can be extended if they run your credit again. From the moment a seller accepts your offer, you are 30-60 days from moving in.
How much can I afford?
A lender will be able to tell you what they think you can afford. Only you know your personal budget and what you want to spend on your monthly housing costs.
Click here for an affordability calculator.
How much cash do I need at closing?
A “typical” down payment ranges anywhere from 3-25%. In addition to your down payment, you’ll need about 2-4% extra for closing costs such as taxes, transfer fees, lender fees, etc. Learn about downpayment programs here.
BEFORE YOU LOOK
Choose an Agent
An agent will be able to start your search the right way and give you access to the best resources and current market updates.
Talk to a Lender
Pre-approval is the most important step in homebuying. You will need this before submitting any offer. We can provide a list of recommended local lenders who are fast and have competitive rates.
YOU’RE READY TO LOOK
Tour Homes
Getting out to see homes as soon as they hit the market is critical in this market. Your agent will work around your schedule to get you into homes.
Submit an offer
There are several ways to make your offer competitive specific to each market. Your agent will walk you through different options and protections to write into your offer.
UNDER CONTRACT
Contract Contingencies
Your accepted offer may have a couple of tasks to complete, typically for your protection, including:
- Inspection Period
- Lender Appraisal
- Final Mortgage Approval
Closing
Congratulations on buying your dream home! Closing is the easiest part—get ready to sign a lot of documents!
Realtor Lorentz 