Financing in 20705>Question Details

Hfaison, Home Buyer in 20705

Loan Commitment FHA - First Time Homebuyer

Asked by Hfaison, 20705 Fri Dec 11, 2009

I'm a first time homebuyer and just recieved a loan commitment on an FHA loan. What are the next steps? How long does it take from receiving the commitment to acutally getting the keys in my hand.

Thanks

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That really depends on the conditions of the commitment and the lender. Are there any open conditions?

This would be a great question for your agent and/or loan officer.
2 votes Thank Flag Link Fri Dec 11, 2009
I agree with Gary. Calling a local Realtor is a must. Buying a home without representation simply does not make sense in these turbulent times.

Good luck in your search.

Vladimir Kats
0 votes Thank Flag Link Fri Dec 11, 2009
The next step is to call me for a free buyer consultation. Having me as a Realtor to help you with all your real estate needs will help you make informed and confident decisions. My office is located just down the road from the Beltsville area. I would be happy to help you.

Gary Mather
Long and Foster
White Oak/Silver Spring
301-388-2662
garymather.lnfre.com
0 votes Thank Flag Link Fri Dec 11, 2009
Hi H Faison...Congratulations on your loan commitment!!!

The next step would be to get with a qualified agent who specializes is selling homes in your area of choice and "go shopping". Of course this agent would want to sit down with you for a brief consultation first, especially being as though you're a first time purchaser to go over the entire process with you from A-Z. So you'll not just be a home buyer, but an INFORMED home buyer.

Much success to you in your home search...
Web Reference: http://www.alqamarmalik.com
0 votes Thank Flag Link Fri Dec 11, 2009
I'm assuming that since you've already met with a lender, he or she discussed with you the downpayment and closing cost requirements with FHA financing. Your next step is to determine a location that you want to live and meet with a Realtor to discuss your options.

With the current interest rates and tax credit incentives, it's a great time to buy your first home. Good Luck!
0 votes Thank Flag Link Fri Dec 11, 2009
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