Frequently Asked Questions

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The best time to buy a home is when you are mentally ready to take on the challenges of home ownership, and have a healthy down payment. 

Your first step is to talk with us to help navigate you to a trusted lending institution to see if you qualify for a mortgage. 

 pre-qualification is an estimate of what you may be able to borrow without providing the necessary documentation to confirm that. Preapproval is verification from a lender after they review your mortgage application and run there reports.   If you’re pre-approved, you’ll receive a pre-approval letter, which is an offer (but not a commitment) to lend you a specific amount, good for a couple months. 

This depends on your financing. If it's a cash offer you can close in a few days. If you are looking to finance you are looking at a minimum of 30 days or longer. 

Litchfield County Real Estate does not just show you houses We navigate you to your dream home that fits your lifestyle. We make sure all of our Licensed  Real Estate Agents are members of the National Association of Realtors, and abide by the code of ethics. 

If your home doesn't appraise due to safety concerns or it appraises for lower than what you will be financing, they will not finance the loan. 

You have a couple options:

• The seller will reduce the price
• You can pay the difference with your own funds
• You can walk away from the contract 

in an "as is" addendum, the buyer is willing to purchase the home in the current state it is in, at the time of contract/closing, without the expectation of repairs/upgrades on the seller’s part.

Most as-is addendums will state that the property is expected to remain in no less than the same general condition as at the time of acceptance. In other words, if you sign the addendum and then the next day a major storm hits or the seller trashes the house, you should not be required to follow through with the deal. Again, it’s best to hire a real estate lawyer for legal guidance or if you would like additional explanation.

Conventional Mortgages

• Fixed rate Mortgages
• Adjustable Rate Mortgages

Government Loans

• FHA Loans
• USDA Loans
• VA Loans
• CHFA Loans 

Jumbo Loans 

A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. 

Hard Money Loans

For fix and flips, distressed properties, and non-arm’s length transactions.