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Hablo Español |
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| Close Your
Home Loan |
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Upon approval of
your home loan, you will be required to approve
the final home loan documents/paperwork. This
usually occurs in the presence of a notary public.
Please be prepared with the following: |
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Have a
cashiers check for your initial investment and
closing costs, if required. Personal checks
are normally not an acceptable payment
method. |
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Be ready
to review the final loan documents in
detail, especially the HUD statement. Ensure
that the interest rate, loan program and
loan terms agree with what you asked for and
were promised. Further, verify that your
name and address on the loan documents are
correct; mistakes can and do occur. |
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If
everything is correct, approve the loan
documents.
Normally, your loan will close within one to
three (1-3) business days after you have
approved the loan documents, depending on
whether you are purchasing a home, refinance
your current home loan, or obtaining a home
equity loan. |
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Rescission
Period |
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On refinance and
home equity loan transactions, federal law requires
that you have three (3) days to review the documents
before your loan transaction may close/record. |
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