BORROWER CHECKLIST
What is title insurance? Insures against financial loss from
DOWNPAYMENT OPTIONS Checking/Savings/Money Market Account - Liquid
defects in title to the property. It’s
Gift funds - Must be a gift that doesn’t have to be paid back
a policy that insures you won’t
Borrow against 401K
have any unknown claims made
Close out CD
to the ownership of your home.
Cash out stocks or bonds Cash? No mattress money allowed
Explain “escrow” WE HAVE TO SOURCE ALL FUNDS Unaffiliated 3rd party that receives and disburses money, documents and instructions between two parties.
Cash out stocks or bonds Cash? No mattress money allowed
CLOSING COSTS & PREPAIDS Origination Fee Appraisal Title Fees Title Insurance Taxes Homeowners Insurance Recording Fees
Synergy One Lending, Inc. | NMLS # 1907235