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Closing On Your New Home

 

Once you’ve received your loan approval, next comes the most exciting part of all: becoming the legal owner of your new home! Your lender will most likely let you know when you’re scheduled to seal the deal and sign the final paperwork.

Before You Close

  1. Get a home inspection. Ask your agent for inspectors they recommend.
  2. Get a homeowners insurance policy. Talk to our knowledgeable insurance agents about coverage that’s a right fit for you.
  3. Review the Closing Disclosure and make sure any errors are corrected.
  4. Review any other closing documents, which may come from your lender or your agent.
  5. Get the final closing dollar amount and instructions for providing payment.
  6. Do a final walk-through of the home 24 hours before closing to ensure all repairs have been made.

Doing all of these things can make the process go a little quicker and will help get you into your new home that much faster.

What to Expect at Closing

Be prepared for signing papers.  This can take as little as 30 minutes to complete. The title agent will review every document with you, explaining what each means, and you’ll sign off on them. Don’t rush, and if something doesn’t make sense to you – ask. Now is the time to make sure all the numbers are correct, all your contingencies are included, and all seller concessions have been recorded.

Your agent will probably accompany you, as will your loan officer, the seller and the seller’s agent.

If you have already wired the funds to the title company, you should get your keys to your new home right away! If funds for closing aren’t wired, you may also bring in a cashier’s check to cover your costs for closing.

To ensure a smooth transition in home ownership follow these tips and you’re on your way to closing day! Call one of our knowledgeable mortgage experts today for any questions you may have regarding the closing process!

Equal Housing Lender

Equal Housing Lender. NMLS #685987

Insurance products are not deposits, not FDIC insured, not insured by any federal agency, not guaranteed by any bank, and may go down in value.

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