The holiday season is just around the corner, and there’s no better gift to give yourself than the joy of a new home. Imagine waking up on a chilly winter morning, sipping hot cocoa, and decorating your own space with twinkling lights—all without having to worry about your first mortgage payment until 2025. Sounds too good to be true? It’s not!
Here’s how you can make this festive dream a reality by getting into escrow now:
How It Works
When you get into escrow, the homebuying process officially begins. Once your offer is accepted, the transaction moves into escrow, where all the final details are worked out, like appraisals, inspections, and paperwork. If you enter escrow now, there’s a good chance you’ll close by mid-November or early December, just in time to settle into your new home for the holidays.
No Payments Until 2025? Here’s Why!
One of the great perks of buying a home toward the end of the year is that your first mortgage payment is usually not due until the first day of the second month after closing. That means if you close in November, your first payment won’t be due until January 1, 2025. If you close in December, your first payment will be due February 1, 2025.
In other words, you get to enjoy all the excitement of moving into your new home for the holiday season without the added stress of immediate payments. It’s the perfect way to celebrate your new beginning and focus on what matters—making memories.
Why Now is the Perfect Time to Buy
Settle In Before the Holidays: Make this holiday season extra special by hosting festive gatherings in your new home. Picture cozy movie nights, holiday dinners, and creating new traditions with family and friends.
No Mortgage Payments Until Next Year: As mentioned, closing before the end of the year means your first payment isn’t due until 2025. That’s over a month to enjoy your new home without worrying about monthly bills.
Take Advantage of End-of-Year Deals: The end of the year often comes with excellent deals on moving services, appliances, and home décor, which means you can save money as you settle into your new place.
The Escrow Process Made Simple
If you’re worried about the complexities of escrow, don’t be! Here’s what the process looks like:
Step 1: Get Pre-Approved: This shows sellers that you’re serious and ready to move quickly.
Step 2: Make an Offer: Once you find your dream home, your real estate agent will help you make an offer and negotiate.
Step 3: Enter Escrow: After your offer is accepted, you’re officially in escrow! During this period, inspections, appraisals, and other paperwork are completed to ensure everything is in order.
Step 4: Closing Day: Sign the final documents, receive your keys, and start moving in!
Ready to Get Started?
There’s no better time than now to make your move. At Best Option Mortgage, we’re here to guide you every step of the way, from pre-approval to closing.
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Best Option Mortgage is a DBA of ML Mortgage Corp. ML Mortgage Corp. is a state-licensed mortgage lender, NMLS ID #362312, licensed by the CA Department of Financial Protection and Innovation under the Finance Lenders Law, License #60DBO69831. For other states, visit www.mlmortgage.net. To verify licenses, visit www.nmlsconsumeraccess.org. All loans are subject to credit approval and acceptable collateral. Additional terms and conditions apply. Programs, rates, terms, and conditions may change without notice. Not all programs are available in all states. There is no guarantee that all borrowers will qualify. Restrictions may apply. This is not a commitment to lend. © 2024 ML Mortgage Corp. All rights reserved.