Even though today's real estate market in Summit County isn't as fast-paced or competitive as recent years, that doesn't mean buyers can afford to be casual about their financing timeline. In fact, waiting too long to choose your lender can jeopardize your transaction, even in a slower market.

Once You're Under Contract, the Clock Starts Ticking

When you go under contract on a property in Summit County, your real estate contract comes with strict deadlines—especially the loan objection deadline. That’s the date by which your financing must be on track and ready to go. If you're still shopping for a lender or haven't submitted documents yet, you may be cutting it dangerously close.

Behind the scenes, your lender needs to:

• Lock your rate (if applicable)

• Order the appraisal

• Submit your file to underwriting

• Review title and HOA docs

• Gather updated financials

• Ensure your loan meets investor guidelines

These steps aren’t instant. Most require at least 7 to 10 days of lead time. And that’s assuming your lender is fully staffed, responsive, and experienced with mountain markets.

The Best Time to “Shop” for a Lender

We always recommend you start interviewing lenders before you find a property or at the very latest, before submitting an offer. This way, you can:

• Compare rates and fees ahead of time

• Get pre-approved (not just pre-qualified)

• Understand what loan programs work best for your scenario, especially for second homes, investment properties, or jumbo loans common in Summit County

By the time you’re under contract, your decision should already be made—because your lender should already be working behind the scenes for you.

This Isn’t About Market Pace, It’s About Contract Obligations

Even in a calmer market, your purchase contract doesn’t change. Deadlines are still legally binding. If your financing falls through or hits a delay because you weren’t prepared, you could lose your earnest money—or worse, the deal altogether.

This is especially important for out-of-town buyers who may be managing details remotely or relying on short windows for inspection and due diligence.

Bottom Line: Choose Your Lender Early

We recommend building a relationship with a local lender who knows the nuances of Summit County, like HOA structures, rental income considerations, condo-tels, and appraisal complexity.

If you're unsure where to start, we’re happy to connect you with a few trusted lenders we work with regularly.