How exciting!! You’ve found a house and you’re making an offer – what a thrilling time!! When you make an offer on a property, your realtor will typically write up the offer so that you have time to get  your mortgage financing finalized. Even if you’ve done as much as possible up front (ie. provided paperwork up front and had your broker check your credit) you’ll still need some time to finalize the financing on the specific property you choose. In most cases, five to seven business days should be sufficient. If you do not have any documents in up front, or if there is something out of the ordinary about the property, or your about your application, a good broker will let you know up front if more time is necessary.

The most common thing that will hold up an approval is not having the appropriate paperwork ready. Another great reason to do some prep ahead of time so that you know what’s expected and do what you can to avoid any surprises. Unless it’s a party, then surprises are fun 😉 🎉

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