5 Tips For A Painless Closing

Tuesday, April 14th, 2015

You have been looking for weeks and have finally found the house you have always wanted. Qualify Before You Buy Oklahoma

It might be your dream lake home at Grand Lake, or that perfect rural property, or the first home that you’ve ever bought.

Your approved for a mortgage, movers are all set, utilities are being converted o your name on the day of closing.

Everything is perfect.

But wait. You still have the closing. Nothing could go wrong with the closing, right?

Here are a few tips to make the closing as easy and as ‘surprise free’ as possible:

  • Ask Questions – Don’t be afraid to ask questions. About a week before your closing date, I suggest you all your loan officer and title company. Ask if there are any problems and if there is anything else they need from you or your spouse. This will help all parties involved. Your closer has so many files they are working with that sometimes they don’t see your file until hours before closing. When you pick up the phone and call, it forces the closer to get involved a week earlier and if anything is needed, you’ve got plenty of time to get it together.
  • Take The Day Off – Granted, most closings only take 30 minutes to an hour. But, things do come up. It could be as simple as a typo on your loan documents or something like the interest rate being wrong. These things can be fixed but it takes time. That is also why I would schedule your closing as early in the day as possible. That way you will have plenty of time if something needs to be corrected.
  • Review Loan Documents in Advance – Ask your loan office and closer when documents will be available to review. Hopefully they can email you or you can stop by their office. Some things to check: spelling; are you in title the way you want; is the interest rate accurate; addresses for mailing and the property are correct; etc. These are simple items that can be corrected before closing and save you hours on the day of closing.
  • Take A Check – While reviewing your loan documents, check to see how much funds will be required to bring to closing. Then go to your financial institution and get a Cashier Check made payable to the Title Company for the exact amount. Some title companies are now requiring fund be wired in. Either way, be prepared as this will expedite your closing.
  • Expect The Unexpected Don’t get flustered. Everyone involved in your closing is working to achieve one thing…get your loan closed! But remember that lenders are not only working on your loan but they also has a whole pipeline full of other people closing loans as well. So when errors have to be corrected, especially at an end of the month closing, it can take time. Take a deep breath. Relax. It will get fixed, and you will be a Happy Homeowner!!

And remember, 1st Capital Home Loans can get you a mortgage on any property anywhere in Oklahoma. From a beautiful lakefront home at Grand Lake to your dream rural property, or a home in any town in Oklahoma.

Call Mark Young today at (918) 782-4994 or get a quote now to get started on your Oklahoma home loan today.