CLOSING & BEYOND
What happens at the loan closing?
The closing will take place at the office of a title company or attorney in the area who will act as our agent. If you are purchasing a new home, the seller may also be at the closing to transfer ownership to you.
During the closing you will be reviewing and signing several loan papers. The closing agent or attorney conducting the closing should be able to answer any questions you have.
Just to make sure there are no surprises at closing, the Attorney will contact you before closing to review your final fees, loan amount, first payment date, etc.
Will I need to have an attorney represent me at closing?
We recommend that you have an attorney at the closing if it would make you more comfortable. Feel free to contact the closing agent if you have questions about attorney representation. If your attorney has any questions about your new mortgage, please refer them to your Mortgage Representative. We'd be happy to provide any information necessary.
Can I get advanced copies of the documents I will be signing at closing?
Unless there are special circumstances, the documents are usually prepared one to two days before your closing. If you would like copies of the completed documents to be sent to you before the closing, please contact your Mortgage Representative.
Who will be at the closing?
The closing attorney acts as our agent and will represent us at the closing. However, your personal Mortgage Representative will contact you prior to closing to talk about your final documents and to provide a final breakdown of your closing fees. If you have any questions that the closing agent can't answer during the closing, ask them to contact your Mortgage Representative by phone and we'll get you the answers you need before the closing is over.
I won't be able to attend the closing. What other options are there?
If you won't be able to attend the loan closing, contact your Mortgage Representative to discuss other options. If someone you trust is able to attend on your behalf, you can execute a Power of Attorney so that this person can sign documents on your behalf. In other cases, we're able to mail you the documents in advance so that you can sign and notarize them. Then forward them to the closing agent. We're sure to have a solution that will work in your circumstances.
Can I make my monthly payments with an automated debit from my checking account?
Automated monthly payments are available. Please contact your Mortgage or Branch Representative.
If I apply, where will the closing take place?
We use a network of local attorneys to conduct our loan closings. Typically, the attorney will be assigned by the bank and the closing will take place in their office.
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