Picture this: You’ve found your dream home, and it’s almost time to make it officially yours. But like many homebuyers, you’re feeling a bit anxious about the closing process.

Worry not! Colorado Title & Closing Services is here to bust some common myths and guide you toward a fantastic homebuying experience.

Myth: A Large Down Payment is a Necessity 

Truth: Not necessarily! While a 20% down payment can reduce interest over time, it’s not a one-size-fits-all scenario. There are loan options available that minimize or even eliminate the need for a down payment. For instance, VA loans for service members and veterans and USDA loans for rural home purchases offer zero-down payment solutions. Don’t qualify for these? An FHA loan could be your ticket if you’re grappling with debt, lower credit scores or other financial setbacks.

Myth: The Closing Date is Set in Stone

Truth: Flexibility is often key in real estate transactions. Closing dates can shift due to various factors like unexpected inspection results, price renegotiations or discovery of liens. Should you need to move your closing date, your real estate agent can make phone calls to get the date moved and find a date that works with everyone. Just keep in mind potential fees, including temporary housing or mortgage penalties, that can occur. Talk with your Realtor and discuss your options.

Myth: Closings Are Always Lengthy and Complex

Truth: Typically, closing on a home takes about 30 to 45 days. (And trust us, that time often flies by.) While surprises can happen, having an experienced Realtor and a trusted title insurance company, like Colorado Title Services, working with you will streamline the process.

With 74 years of expertise, we’ve seen – and solved – it all. Our goal? To ensure your journey to homeownership is as stress-free as possible. Contact us today!