Getting an offer accepted is one of the best feelings in homebuying – you’re in the home stretch!. At The Cowart Team Home Loans, we walk our clients through every step of the mortgage process so nothing feels like a surprise. Whether you’re a first-time homebuyer in Central VA or you’ve purchased before, knowing what to expect from offer to closing makes the whole experience smoother. Here’s a simple breakdown of what typically happens next.
1. Offer Accepted Once your offer is accepted, you’re officially under contract. This is when timelines begin, and the next steps start moving forward. You’ll typically submit your earnest money deposit, and your mortgage lender will begin working on your home loan.
2. Home Inspection The home inspection is one of the first major steps after going under contract. A licensed inspector will evaluate the property’s condition, including the roof, plumbing, electrical, HVAC, and overall structure. After the inspection, you may choose to move forward as-is, request repairs, or negotiate credits with the seller.
3. Home Appraisal Your mortgage lender will order a home appraisal to determine the property’s market value. This step is important because the lender wants to ensure the home is worth the agreed purchase price. If the appraisal comes in at value, the process moves forward. If not, there may be additional negotiations.
4. Clear to Close Once underwriting is complete, you’ll receive final loan approval. This is commonly called Clear to Close. This means your mortgage has been fully reviewed and approved, and you’re ready to schedule your closing date. At The Cowart Team, we typically try to complete upfront underwriting before your offer is ever submitted. That means by the time you reach this stage, you’ve already had a head start, giving you a stronger offer, fewer surprises, and real peace of mind throughout the process.
5. Closing Day Closing day is when you sign the final paperwork and officially become a homeowner. You’ll review and sign documents, pay any remaining closing costs, and receive the keys to your new home. Our Loan Managers will prepare you for all of this!
The homebuying process has a lot of moving parts, but it doesn’t have to feel overwhelming. As a local mortgage lender serving Richmond and Central Virginia, we stay ahead of the timeline, keep you informed at every stage, and make sure you’re never left wondering what’s next. From the moment your offer is accepted to the day you get your keys, we’re with you every step of the way – and we genuinely love helping people get there.