What are some key tips and common pitfalls to avoid when closing a residential loan?

[Maria T. Torres]

I’m about to close on a residential property and want to ensure everything goes smoothly. I’ve reviewed my Closing Disclosure and gathered all necessary documents, but I’d love to hear from those who have been through the process. What are the most important steps to focus on? Are there any specific things I should double-check or potential issues I should be aware of? Any advice on how to make this process as stress-free as possible, would be greatly appreciated!

[Carlos Valencia]

Hello Maria, 

Depending on your file will depend on the stress of the process. If you are a borrower with a w2 income and no other properties only basic liabilities your file should be very straight forward. Just make sure not to open any new unsecured debts, or change jobs. Other than that all the underwriter needs to verify is your income, assets, and liabilities to make sure you can pay for your mortgage and low risk of defaulting.

@Albert Bui @Matthew Kwan