The Home Buying Process and What to Expect
The time between your loan application and closing and move in can vary. A variety of delays can occur, including:
- If your inspector finds problems with the property, often the loan is held until the problems are fixed.
- The lender may have issues with the home appraisal and the original appraisal put under review.
- Problems with the title can create unforeseen setbacks.
There is no set time frame for how long a mortgage takes. Knowing more about the process and what to expect though can help you monitor your progress and understand what still needs to happen.
- Inspection and appraisals
- Purchase contract
- Closing (funding)
- Moving (utilities)
- Your mortgage
- Mortgage servicing and recording