Closing a Mortgage

Closing a Mortgage in Brookfield Center, CT

The following tips will help make your loan closing process as easy and stress-free as possible.

Pay closing costs with a cashier's check made payable to your title company.
Notify your lender if your salary or compensation changes from what is listed on your application.
Notify your lender if your address changes, as mortgage and rental verification must be completed for all previous addresses during the last two years.
Get homeowner's insurance ahead of time with at least the minimum coverage of your loan amount or the replacement value of the home.
Give the loan officer the name and contact information of your agent at least 10 days before closing.

Maintain a paper trail or documentation for any large deposits into your bank account.
Notify your lender if you transfer funds.
Verify you have a clear termite inspection report or a receipt for treatment.
Do not make large purchases or open new credit accounts before your loan closes because your credit will be run a second time before closing.
Do not change jobs without contacting your lender, as this change may affect your ability to qualify for a mortgage. Lenders sometimes verify employment again at closing.
Do not co-sign for any loans or credit accounts, as they will appear on your credit report.
If you are not sure what you should be doing during the loan process, contact your loan officer.

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