Avoid Mortgage Closing Glitches
You’re days Away from Closing Your Transaction, Here’s What to Expect:
It’s an exciting experience to know that your loan is about to close and your going to get your keys to your new home. Part of having that kind of experience is to be prepared ahead of time, be pro-active and ask questions. We at LendPlus Financial want to make sure your total real estate and mortgage lending experience is pleasurable. After all, we want referrals, Right?
We work very hard to keep in touch with your Realtor and our internal team to make sure all aspects of your mortgage file tasks are complete on time or even “ahead of time”. We consistently talk to escrow to make sure they have all the documents for the title company, appraisal provider, roofer, etc. up to and at the point that you sign your final closing papers and close your transactions.
Because we use the “team” concept in mortgage lending you can be assured that we will be in communication with everyone, all the time.
Now that we have discussed what we do, lets talk about your part. Please make sure you communicate with us all the time as we want open communication because it delivers results for all. Follow these steps to avoid any glitches:
1. Make sure that you do not purchase any large ticket item on your credit cards or other means that could show up on your credit report. The lender may pull an updated “credit report” (one more time) to get an update as to any new purchases you might have made, prior to closing your loan thru escrow. If you did create additional debt, it could effect your ratios and ruin your chances of closing escrow.
2. Make sure you complete your final “walk thru” with your Realtor on the property you are going to purchase at least a week prior to signing your final escrow document and loan papers. That way, you can give the seller time to remedy any issues or concerns prior to the close of escrow.
3. Make sure you deliver the final “cashier’s check” of the final sum needed to close your transaction. Do not wait till the last moment.
4. Make sure you get an “Estimate HUD-1 from the loan agent you are working with at LendPlus Financial a few days early from the time you are signing your final escrow papers and loan documents. That way, there will be no misunderstood items and you will have a full understanding of the costs associated with your loan. Always, ask questions. We are here to help!
5. After the transaction has closed, offer to provide a positive testimonial to the loan agent as it helps them grow their business. They really appreciate it but often are shy in asking for a testimonial. When someone does a good job, they should be noticed, right!
6. Consider giving them a referral if they did a great job for you. One common thing that happened when people buy homes is that that talk about it to their friend, family and associates. If the agent deserves it.. let them benefit from a kind referral.
LendPlus Financial is ready to prove that we care and want to earn your business. Give us a call. at 800-379-1328