My Loan is Approved

After Loan Approval

• Once you receive clear to close from lender, the attorney will schedule closing with seller attorney.

• You will receive a Closing Disclosure from lender at least 3 days prior to closing, reflecting the actual terms of your loan transaction, as well as the final amount due (closing costs).

CLOSING COSTS:

Also known as settlement fees, closing costs are fees charged by the people representing your purchase — lender and other third parties. These fees are typically between 2-5% of your purchase price.

DON’T

DO

1. Do tell your mortgage loan officer or loan originator about all debts or liabilities.

2. Do continue to make all your payments on time.

3. Do contact your mortgage loan officer before changing your jobs, quitting your job, becoming self-employed or any changes to your income.

1. Don’t authorize any inquiries into your credit (that is, don’t apply for any new financing including credit cards, furniture, appliances, vehicles, boats, cell phones, cable, alarm companies, etc.)

2. Don’t incur any additional debts, including increases in credit card balances and co-signing for others.

3. Don’t close any open accounts.

4. Don’t sign-up with any credit repair or “consolidation” company.

5. Don’t spend money you have set aside for closing.