Once again: yay, you’re in contract! If you’re financing your purchase, a lot of the action at this point happens with your lender, starting immediately after your offer is accepted. In our fast-paced market, it’s likely that your mortgage broker got quite a bit of the work on your file done before you even wrote your offer. Now that you’re in escrow, the mortgage broker will order your appraisal and complete what we’ve heard described as (cover the eyes of any small children, please) the “financial proctology” of getting a loan. You’ll probably roll your eyes at least once when the mortgage folks ask you to explain something in your financial paperwork, but you’ll get through it, we promise.
During this phase of the process you’ll also select your homeowner’s insurance policy. Your lender will give you specifics about coverage amounts, and your Jackson Fuller agent can recommend some excellent insurance agents.
If you’re paying cash, you’ll have a quicker escrow — with much less eye-rolling.
When you’ve gotten your loan approval, the finish line is in sight!