So here’s the good news. You’ve been preapproved for your mortgage loan and you’ve found your new home in Florida, California, or Georgia. You’ve made an offer on the house and it’s been accepted. Congratulations! You’re almost there.
At your closing, you and the seller will meet (along with your mortgage professional, your attorneys, and your real estate agents) to sign all required paperwork, to make any payments that are necessary, and to receive the keys to your new domain. And because it’s the last step, there’s a real tendency to want to rush through the proceedings and go straight for the champagne.
You want to hold off a little longer, though. Your closing is an important step, even if it is the last one, and you need to really pay attention to what happens there. Two issues in particular are critical:
- Signing documents. Make sure that you read everything, and ask for your mortgage professional to explain anything that you don’t understand. If you sign it, you’re committed to it, and later you can’t say that you didn’t know.
- Paying costs. You need to pay closing costs (which your mortgage professional will have explained to you before closing); but there may be some additional fees as well. You’ll probably have been given the option of “wrapping up” closing costs and fees into your new mortgage loan; you may do that, or you may have chosen to pay them at closing.
Closing on your house is one of the most important and significant things you’ll do and you want to make sure that you understand everything that happens there and that you’re prepared for what will happen. At Avrus Financial and Mortgage, we’ve been explaining closings and offering options to clients for many decades, and we can do the same for you, too.
Why not ask us how… today?