Be prepared at your mortgage closing

Top mistakes to avoid at closing

1) Rushing. Closing on your home and mortgage is one of the most important financial commitments you’ll ever make. Take all the time you need.

2) Feeling like you “should” know the answer to something, and not asking questions. Mortgages are complicated, and there’s a lot of unfamiliar paperwork. When in doubt, ask!

3) Silencing that little voice of yours that says something is wrong. Trust your gut and speak up. Now is your chance to prevent future problems.

Bring these things or people with you to closing

• A cashiers check or proof of wire transfer for the exact amount of money you need to close.
• Your co-borrower or the person who is co-signing your loan.
• Your driver’s license.

Get answers to these questions at your closing

• How will I pay my property taxes and homeowner’s insurance?
• Included in my monthly payment
• I have to pay them on my own
• Where will I send my monthly payments?
• If I have Homeowner’s Association dues, how do I pay?
• Who should I call if I have questions after closing?

Don’t forget these closing tips

Take all the time you need. You have a right to read and understand your closing documents, no matter how long it takes.

After Closing

Save your closing packet which includes:
• Closing disclosure
• Promissory note
• Mortgage / Security instrument / deed of trust
• Deed document that transfers property ownership (purchase only)