When I go to closing, how do I provide my funds?
Title companies require certified funds and some require a wire if the funds are over a certain amount. When you obtain certified funds, these can be called a cashier’s check or a certified check. The bank will withdraw these funds immediately from your account and you cannot issue a stop payment on these unless you […]
Who attends the closing and how much time do I need?
Closings generally take about 1-1 ½ hours to complete. The closing is attended by: All buyers Occasionally a spouse/co-owner on title is required to sign documents at closing Buyer’s agent Title agent All sellers (unless bank owned or REO) Sellers agent Loan originator (usually on purchases/not always on a refinance)
I can’t attend the closing and I want to use a Power of Attorney (POA)?
A power-of-attorney is at the lender’s discretion. Many lenders will not allow a POA when there is only one borrower. You need to contact your loan originator immediately to determine if a POA will be acceptable to the lender and they will help get a POA prepared that can be approved by all parties.
What will the lender check the day of closing?
Frequently, the lender will recheck your employment one more time on the day of closing. Additionally, they may run a supplemental credit check to verify that you have not obtained any new credit just prior to closing. These steps are all attempts to keep mortgage fraud to a minimum and to make sure the loan […]
You have a large amount to put towards the principal balance on your existing loan and you want the principal application to reduce your monthly payment
We get calls all the time from people that are moving toward retirement and they are trying to scale their budget down by reducing the amount of their monthly mortgage payments. What many loan officers don’t tell you is that you don’t necessarily have to refinance your mortgage in a situation like this to reduce […]
How do I start the process?
Call us! Or if you would rather fill out the pre-qualification form online right away, go here: PREQUALIFY NOW