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9 Tips for a Smooth Loan Closing

Everyone wants to have a smooth closing day without any hiccups, but a lot of what could go wrong is in your control. In this episode, we’re going to give you nine tips to ensure that you have a loan closing that goes as expected without any surprises.

Before we do that, we want to address the big financial news in March, which was the Silicon Valley Bank and Signature Bank failure. The immediate reaction is to wonder if we’re going to have a repeat of 2008? Bill will walk us through what went wrong here, why it’s not the same as the banking collapse of 15 years ago, and how this impacts the mortgage industry.

Here’s some of what we’ll discuss on this episode:

  • How the Silicon Valley Bank failure is impacting the mortgage industry.  (0:33)
  • Why you shouldn’t change jobs before closing. (8:34)
  • Don’t dip into that money you have saved for a down payment.  (12:16)
  • Why you shouldn’t make any large deposits during this time. (14:30)
  • Don’t increase the balances on your credit cards before closing.  (17:08)

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If you have questions about the mortgage process of buying a home or the ins and outs of refinancing, take advantage of our complimentary 15 minute mortgage consultation.

 

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