First Time Homebuyer Workbook

WAYS TO AVOID LAST-MINUTE DELAYS

By reading it carefully, and completing any of the items you know to be “still outstanding”, you will guarantee yourself the smoothest loan closing.

Your Missing Items List

These are the items that were discussed at the time of your loan application. These could include, but are not limited to: any unsigned disclosures, incomplete or missing bank statements, W-2s, paystubs, etc. By not having any items we’ve requested, your loan settlement could be delayed.

Your Settlement Attorney Company

Have you chosen a title company or settlement attorney? Do we know who it is?

• If you are purchasing a home, please discuss this with your Real Estate Agent and contact us.

• If you are refinancing, may we suggest a company for you?

Your Hazard/Fire Insurance

ave you chosen a Hazard Company to insure your home?Do we know who it is?

• If you are purchasing a home, you will need to contact an insurance provider and have them contact us.

• If you are purchasing a condo, we need to have a copy of your Certificate of Insurance. Please contact your future Homeowner’s Association for this information and have them fax the certificate to us.

• If you are refinancing, we need to update your current policy. Please give us your insurance company’s name and numbers.

Shifting Your Assets & Gift Letters

If you have shifted your assets from one account to another from the time of application to settlement, please provide a paper trail documenting this. A paper trail means copies of checks deposited (wire transfers, etc.) and deposit slips. If you are receiving gift funds, have you provided us with a signed gift letter for the monies that you have received as a gift?

Funds Needed at Closing

Once we have established a settlement date, you will need to have a certified check made payable to the attorney/title