Remove Inspection contingency Remove Loans Remove Marketing Remove VA loan
article thumbnail

How Long Can a House Be Under Contract?

Norada Real Estate

Additionally, the type of financing being used, such as FHA or VA loans, can also impact the length of the under-contract period. Home Inspection Contingency One of the most common contingencies that can affect the length of the under-contract period is the home inspection contingency.

article thumbnail

51 Brilliant Real Estate Tips for Buyers to Edge Past the Competition

HomeLight

Ready to hit the market, buy your dream home and conquer this whole homeownership thing? They’ll have specialized market information that others won’t. So understand that unless you’ve been earning 1099 income for more than two years, it may not help you qualify for a home loan. and 1% of your loan amount, annually.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

10 Mistakes to Avoid When Buying a Home

Windemere Buying

Taking on new credit Opening new lines of credit at any point in the home buying process will slow things down and can affect your chances of getting a home loan. Adding another credit card to your collection or taking out a loan will change your credit score, causing a ripple effect that can bring the buying process to a halt.

article thumbnail

From Contract to House Keys: Breaking Down the House Closing Process

HomeLight

The average time to close a loan was 48 days in July 2021 , according to ICE Mortgage Technology, a company that produces mortgage management technology. Average time decreased from earlier in the year, when the market was extremely hot. Step 4: Submit the loan application officially. Step 5: Review the Loan Estimate.

Closing 82
article thumbnail

When Is a House Down Payment Due and How Much Do I Need?

HomeLight

We’ll get into loan specifics later, but to give you some actual numbers to make sense of everything for the moment, consider this: While 20% has long been touted as the so-called ideal amount , it takes significant savings to afford putting this much down payment on a home — and it’s certainly not the norm for first-time buyers. Escrow fee.

article thumbnail

Selling a House ‘As Is’ in Missouri

HomeLight

“Typically, the reasons are like an estate sale where they’ve inherited the property, and they don’t have the funds or the inclination to prepare the property for the market. But, the seller has an advantage in that particular market, ” according to Alicia Sierra , a top St. Louis market,” she says.

As-is 87
article thumbnail

How to Buy a Home As-Is and Make Sure You’re Protected

HomeLight

When you see the term “sold as-is” on a listing or marketing material, that means the seller is telling you upfront they are selling the property in the exact condition you see it in. An inspection can tell you upfront the exact issues with the house so you know what money you might have to spend down the line. USDA loans.

As-is 70