Closing on Your New Home In 21 Days From Application To CTC
This blog will cover closing on your new home in 21 days from application to CTC. Closing on your new home on time is expected for both the home buyer and the sellers. There are many lives affected by a home closing. Buyers and sellers have families. They both need to make plans such as the following:
- Scheduling movers
- Registering their children to their new schools
- Planning on taking time off work
- Making sure that friends and family are available on the closing date if they are planning on moving at the same day as the closing on your new home
In this article, we will discuss and cover lenders that can close on your home In 21 Days With No Overlays.
Before Closing on Your New Home
Normally a day or two before closing on your new home, most homebuyers will have a final walkthrough. This final inspection of the home ensures that it is in the same condition as you have seen it before entering into a real estate purchase contract. If there were repairs to be made and negotiated between the homebuyer and home seller, you need to ensure that the repairs have been performed to your satisfaction.
You need to check that items that remain with the home, such as appliances, blinds, drapes, patio furniture, and fixtures, are in working condition. If debris needs to be cleared, ensure it has been done. The final walkthrough should not be done the same day as the closing on your new home if certain repairs need to be made or have not been completed. It is not wise to renegotiate at the closing table on your home closing date. Many closings get delayed or canceled because the home buyer is not pleased with the final walkthrough.
Common Issues and Problems Discovered During Final Home Inspection Prior Closing
Common complaints by buyers during walkthroughs are the following:
- Debris not cleared
- Broken windows and glass
- Appliances not working properly
- Yard not manicured
- The toilet is not in working order
- The garage door is not working
- Other defects to the home
The Home Closing Process
The Home Closing Process is the touchdown of the home buying process. The closing is when the home buyers and sellers gather at the title company, and the transfer of ownership takes place. The lender sends closing docs and the wire of the loan amount. The sellers get the proceeds of the sale, and the home buyers get the keys and paperwork of the ownership of their new home purchase. The transfer from the home seller to the buyer happens at a real estate closing, normally at the title company.
Closing on your new home on time can be done if the borrower works closely with the mortgage loan officer, its processors, and underwriters. The closing usually occurs at a title company or attorney’s office where the buyers, sellers, attorneys, and closer are present.. Ownership of the newly purchased home is officially transferred from the seller to the home buyer at the home closing.
Here is what happens on the date of closing
It is at the home closing where the docs from the lender are sent. The lender also sends the wire once all parties sign the closing docs and the lender approves the Closing Statement. Once the wire is sent, the title closing officer will disburse funds, and the seller will get the proceeds from the sale of the home.
There are cases where you can have a real estate attorney act on your behalf if you cannot attend the closing. This usually happens if you are a buyer from out of state or, for one reason or another, you cannot attend the real estate closing. Home sellers do not need to be at the closing unless they want to. Most closings take less than two hours. However, closings may take hours if there are delays when the lender has issues approving the closing docs or delays in sending the wire. Most of the closing paperwork at a home closing is normally done by real estate attorneys, title agents, and closing agents.
Closing on Your New Home In 21 Days or Less
In most states, the settlement is done by a title agent at the escrow firm. You forward all the materials and information along with the appropriate cashiers’ checks, and the firm will make the necessary disbursements.
The realtor or an officer of the title company will either wire the proceeds to the seller or give them a cashier’s check. The buyer will get the keys, garage door opener, owner’s manuals of appliances, and any other items belonging to the home. Deals outside of closing can be made, such as purchasing lawn and garden equipment and other items.
Qualifying For a Mortgage With a Lender With No Overlays
Gustan Cho Associates is a national mortgage company licensed in multiple states with no lender overlays on government and conventional loans. Gustan Cho Associates has a national reputation for its 21-day closings on most of its mortgage loans. Mike Kortas, President and CEO of NEXA Mortgage, LLC. Our company is comprised of licensed and support personnel. The team at Gustan Cho Associates specializes in the following:
- No overlays on FHA, VA, USDA, and Conventional loans
- 580 FICO credit scores on FHA, VA, and USDA loans
- NON-QM Loans for borrowers one day out of bankruptcy and foreclosure
- Bank Statement Loan Programs
- No Income Verification Loans
- Non-Warrantable Condominiums and Condotel Financing
- 21 Day Closings on most of their loans
- Construction loans
Homebuyers who need a mortgage broker licensed in 48 states with no overlays, please contact us at Gustan Cho Associates at 800-900-8569 or text us for a faster response. Or email us at firstname.lastname@example.org.
November 28, 2022 - 4 min read