I am pre-approved, now what? Helpful Mortgage Tips for Closing Your Loan:

So you went to your mortgage lender and spent the quality time upfront to be pre-approved. You shopped till you dropped and finally found the right home for you.

Now comes the fun part. Getting the transaction closed. Once your under contract, there are things that need to be finished.

Below is a list of helpful tips and advice so your mortgage transaction will close on time.

• Get all required paperwork to the lender in a timely manner. Most of the time any documentation your lender asks from you needs to be reviewed and signed off by the underwriter. If this is not done, then they will not be able to move forward with getting closing documents to your title company.
• Do not change your employment status. I really cannot emphasize this enough. Basically, your lender qualified you based on your current job, income and length of time on the job. If this changes before closing, it could change your entire approval and in some cases could turn your approval into a denial.
• Do not buy any big ticket items during your closing process. This means, do not buy cars, washers, dryers, dishwashers, or other items. Your lender always has the option to re-pull your credit again right before close of escrow and verify you did not accumulate any new debts. If these debts are on your credit, they could change your approval to a denial. If you do need to buy something such as a washer or dryer, call your lender before hand and run this by them. Sometimes certain things you buy will not change your approval.
• Do not spend any of your assets that your lender approved you with. If your lender told you he needed to verify $6,000.00 in your bank account before closing, then those funds need to stay in your account until closing is finished. If these funds get spent, this again could change your approval.
• Be proactive and cooperative with your lender when you can. If your lender calls you at the last minute and needs something, please be helpful and get that item for them. Most of the time, a good lender will not have any of these last minute requests, but over the years, this has happened to me where something was overlooked, or something changed in the file and created a new condition.

Remember your lender just wants to see your loan get closed on time with an approval, that is the ultimate goal.

We are unique people out there. We expect better then "would you like fries with that drink". I just have learned to use my Midwest values and transfer them into my mortgage business. If you are looking for something a little more unique in your next mortgage loan, please do not hesitate to get a hold of me.

My name is Gary Miljour and this is what I do best.