You found your next home and they accepted your offer! What you don't want now are last-minute hitches, which could slow the deal or even bring it to a halt. Here's what you can do to help ensure your closing goes smoothly.
- Maintain your current financial status. That means no major purchases (increasing your debt-to-income ratio), no changing jobs (creating uncertainty about your future earnings) and no moving your money around (making it hard for your lender to document things).
- Make sure you arrange for homeowner's insurance coverage for your new home. Your mortgage lender will need to see proof that you have a valid insurance policy for your new property before they commit to the loan - for your protection as well as theirs.
- Be sure to provide your lender with all the information and documentation they require in order to process your loan. And keep in contact with your lender - in the event that they need further information or some clarification, you'll want respond as soon as possible.
- Attend your final walk-through. This is your last opportunity to ensure the seller met the contract's terms and contingencies, and that your new home is handed over to you in the condition agreed upon. It's also your last chance to resolve any problems before the deed changes hands.
- Make sure you have enough money to cover your closing costs - and that your money is in the appropriate form (e.g., a certified check or money order).