What you should and shouldn’t do right before your mortgage funds.
While you may have a pre-approved or approved mortgage, it doesn’t fund until the day you
close on your new home. Keep the following tips in mind to ensure a smooth closing:
- Keep your bills up-to-date, including your current mortgage (if applicable).
- Don’t add any new credit without consulting with me first, including co-signing a loan.
- Keep the money for your downpayment separate so you have enough at closing to complete the purchase.
- Have enough money set aside for other closing costs. Contact me for a list of the costs you can expect.
- Don’t pack any important documents relating to your mortgage/home.
- Just before funding is not a good time to quit your job, move to part-time, or reduce your income.
- If your employment situation has changed, please contact me right away.
- Don’t change your closing date without telling me first, and remember to satisfy all conditions of your mortgage approval at least 10 days before closing.
- Get your home insurance in place, it’s an important part of your mortgage – lenders require it before advancing funds.
- Talk to me about insuring this new debt with mortgage life and disability insurance.
Now go and enjoy your new home!
If you'd like to find out more about my 8 STEPS TO HOME! and how we make sure you're prepared with all of the top tips and tricks (including the most important thing to look for in a mortgage) then make sure to call / e-mail / check us out on Facebook or Instagram and most importantly say hi!