Home Loans In Sammamish, Washington

The search for a new home can seem long and hard, so hard that you don’t even take the first step. But, despite what most people think, buying a home doesn’t have to be as stressful, overwhelming, or time-consuming as people say it is.

How long does it take to buy a new house?

Based on how the market is right now, it will probably take you about a year to find and buy your next home. You might spend most of that time looking for a good place to live.

The forces of supply and demand have tipped in favor of sellers, making it harder to find a home that fits your needs and budget.

Homebuying Timeline
Getting a loan approved ahead of time (One or Two Days)

The first step in getting a mortgage is to apply for pre-approval. Your lender will check your financial information to see how much you can afford. If you meet the requirements, your lender will send you a letter with a formal estimate of the loan they are willing to give you.

Looking for a new place to live (3 to 6 Months)

The part of buying a home that takes the most time is often looking for the right house. In a hot real estate market, it could take you a few months to a year to find a home that meets all your needs.

Working with a real estate agent who knows the area and market well is the best way to speed up this step.

Making An Offer (Depending On How The Negotiations Go)

When you’ve found the perfect home and are ready to buy, your real estate agent can help you make an offer and write an offer letter that spells out the terms of the sale.

If your offer is all cash, you should include a “Proof of Funds” letter to show that you have the money to complete the deal. If you’re getting a mortgage, include a pre-approval letter with your offer to show the seller that a lender has already approved you.

Getting your mortgage finalized and getting ready for closing (About 1 Month)

You’re ready to apply for a mortgage now that you’ve signed the purchase agreement. Most lenders need 30–45 days to finish the details of your loan. Your lender will set up an appraisal to make sure your home meets the minimum requirements of your mortgage. After that, your loan will be underwritten.

During this time, you might also want to get a home inspection to see if there are any problems with the property that you weren’t told about.

The End of Your Loan (A Week or Less)

When both your appraisal and your lender’s review of your loan are done, it’s time to close.

Your lender will give you a document called Closing disclosure that explains the terms of your loan before the closing. At least three days are given to you to read it.

Your lender will set up a meeting to close the deal after three days. This is where you sign your loan papers, pay your down payment and closing costs, and take ownership of your new home.

Mortgage Lender In Sammamish, WA

You want to buy a new house in Richland, right? Capital Home Mortgage can help you understand the process and make the best choice. We have a wide range of home loan programs to meet the needs of all buyers, including conventional loans, loans backed by the government, and jumbo loans.

Capital Home Mortgage is one of the most important mortgage lenders in Washington. We offer our clients a flexible underwriting policy, low fees, and competitive interest rates. We are here to help you whether you are a first-time buyer, a veteran in active duty or a veteran who has retired.

Apply for a home loan in Sammamish right away!

Capital Home Mortgage is dedicated to giving our clients a good time when they buy a home. In real estate deals, we know that time is of the essence. Because of this, we make sure we have the right tools and technology to speed up the loan application, underwriting, and funding processes.

You can count on us to finish your mortgage application quickly and easily and to close on time.

Call us at (253) 528-4417, and we’ll help you get a home mortgage.