Our Blog

Mortgage Closing Tips
 July 12 2018     Posted by


 

While you may have a pre-approved or approved mortgage, it doesn’t fund until the day you close on your new home. Keep the following tips in mind to ensure a smooth closing:

1. Keep your bills up-to-date, including your current mortgage (if applicable).
2. Don’t add any new credit without consulting with me first, including co-signing a loan.
3. Keep the money for your downpayment separate so you have enough at closing to complete the purchase.
4. Have enough money set aside for other closing costs. Contact me for a list of the costs you can expect.
5. Don’t pack any important documents relating to your mortgage/home.
6. Just before funding is not a good time to quit your job, move to part-time, or reduce your income. If your employment situation has changed, please contact me right away.
7. Don’t change your closing date without telling me first, and remember to satisfy all conditions of your mortgage approval at least 10 days before closing.
8. Get your home insurance in place, it’s an important part of your mortgage – lenders require it before advancing funds.
9. Talk to me about insuring this new debt with mortgage life and disability insurance.
10. Enjoy your new home!

 

Shannon Mayhew, Mortgage Broker

Because the right mortgage can build your wealth and save you thousands of dollars. Should you have any questions, or are looking to review your options give me a call at 778-858-9848 or email me at shannonmayhew@invis.ca


Bookmark and Share