March 30, 2020
A real estate project is carried out in several successive stages. All of them can take a little time, depending on the situation of each. How long does it usually take to get the funds for a mortgage?
What are the steps to follow when buying a property?
Once the property has been identified, it is essential to approach the seller to sign a sales agreement. Even if it is not a document attesting to the sale, it makes it possible to “reserve” the property, in order to obtain the funds to acquire it. Then find the bank with the best offer for your loan and apply. The applicant has a period of 45 days, after signing the sales agreement, to have a loan offer contract attesting that the money can be obtained.
Who can help me through the entire credit application process?
Having a loan agreement can seem very long for the person who wants to own. However, do not rush. All the stages deserve reflection and it is important in this context to know how to be surrounded. A mortgage broker is the most suitable person for this type of service. First, he can study with you the sales agreement and explain to you what the suspensive clauses consist of. Can a late loan agreement have financial consequences? All the joy of having found the ideal property, it is not uncommon to pay little attention to the lines of a document.
Then, the broker can, with regard to your financial situation in particular, direct you towards the best loan offer. Not all are the same and spending a little time doing a comparison can turn out to be profitable. Letting it then check whether the loan application file is complete saves time, so that the bank can quickly release the funds.
How long does it take to get the funds for a mortgage?
Any mortgage application is subject to a drastic study by the bank. So it takes a little time. Having gone through a broker can shorten this period, because not only will he have found you the most suitable offer, but he will also be responsible for checking that your file is complete. Under the agreements that he can have with certain banks, his intervention can save you a few days on the process.
Once the loan offer has been received, a period of 10 days (withdrawal period) must be observed before the signed document can be returned. Take advantage of this time allotted to you to verify that everything is in accordance with what was decided with the bank (monthly payment, rate, repayment period, etc.). In this, too, the broker can be of great help. As soon as the deed of sale to the notary is signed, the latter proceeds to the call for funds. The broker can ensure that the amount has been released; or a few days maximum after the signing of the notarial deed.