{"id":2079,"date":"2016-12-30T19:19:30","date_gmt":"2016-12-30T19:19:30","guid":{"rendered":"http:\/\/riverbankfinance.com\/blog\/?p=2079"},"modified":"2016-12-30T19:19:30","modified_gmt":"2016-12-30T19:19:30","slug":"how-to-ensure-a-fast-mortgage-closing","status":"publish","type":"post","link":"https:\/\/riverbankfinance.com\/blog\/how-to-ensure-a-fast-mortgage-closing\/","title":{"rendered":"How to Ensure a Fast Mortgage Closing"},"content":{"rendered":"

If you’ve ever purchased a home, you know how stressful the process can be. What should be an exciting\u00a0experience\u00a0can quickly turn to\u00a0panic, as the\u00a0target closing date approaches. So, what can be done to prevent delays along\u00a0your path to homeownership? Check out our list of tips\u00a0and tricks below to meet (or beat!) your closing date.<\/p>\n

Get Pre-Approved.<\/strong> Never shop for a home without first speaking with a mortgage loan officer. You wouldn’t want to fall in love with a home you may not be able to afford.<\/p>\n

Tell the truth.<\/strong> Be 100% honest and transparent with both your mortgage loan officer and your Realtor. If you\u00a0provide incorrect or incomplete information, it could cause major problems during the underwriting process.<\/p>\n

Work with professionals.<\/strong> Find an experienced Buyer’s Agent to represent you and help you negotiate. It will make all the difference.<\/p>\n

Be Responsive.<\/strong> Always send required documents within 24 hours of our request for them. Always send complete documentation (all pages). Be sure they are legible and not cut off.\u00a0The Underwriter will conduct a thorough review of all documents provided by the borrower, realtor, loan officer, and title company. Additional document requests throughout the process are completely normal and necessary to close.<\/p>\n

Ask Us Questions.<\/strong> Review all documents that you receive and let us know\u00a0if there is something you do not understand. It is important to be aware of all costs associated with your mortgage.<\/p>\n

The Appraisal.<\/strong> The appraisal is a required out-of-pocket cost to the borrower which generally ranges from $400 to $600. This must be paid when ordered via credit or debit card.\u00a0If repairs are required by the appraiser, a final re-inspection will be required, which is an additional out-of-pocket cost to the borrower of approximately $150-$175.<\/p>\n

Be patient.<\/strong> The total time to complete the mortgage process varies by loan program, property type, and borrower qualifications. You can expect 30-60 days from application to closing, but the process may\u00a0take more<\/em> or less<\/em> time depending on the situation.<\/p>\n

Don’t Jeopardize your Approval.<\/strong>\u00a0DO NOT deposit large amounts of cash into your bank account.\u00a0DO NOT\u00a0transfer large amounts of money between accounts.\u00a0DO NOT apply for new debt. DO NOT\u00a0have your credit pulled. DO NOT change jobs or pay structure.<\/p>\n

Have a specific scenario you\u2019d like to run past us? Give us a call to speak with one of our licensed loan officers. We would love to recommend the best loan program for you and your situation.<\/p>\n

Get More Information<\/h3>\n

To apply for a Mortgage or Refinance call Riverbank Finance today at 1-800-555-2098.<\/p>\n\n

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