Newlyweds, Part 3: Preparing for the Big Close!

In our previous installments in this series, we discussed the pros and cons of both buying a starter home and buying a forever home. But now, that you’ve decided on that dream home, there are a few items that you will need to complete before moving in….or going to… “ The Closing.”

One of the items is getting all the needed documents to your lender. At Home Creations, you can choose one of our participating lenders , and they have tons of experience with first time home buyers. You can rest assured they will not change terms and that they will have your loan ready the day you are to move in.

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Do know, that with additional and stricter government regulations, you will be asked for many personal documents sometimes more than once. They will include bank statements, pay stubs, tax returns, verification of employment among others. They are loaning you a lot of money. They want to be sure you are a good risk. They will need information initially and then need to verify it again before closing. So, keep those documents handy and don’t pack them away when you are moving.

Our mortgage banks are closely monitored by the government and the Title Company is also a check and balance on everything that is done financially. You do not need to fear giving them your personal information. They are all closely regulated and audited. Sometimes, though, that process can be a little new and different for you.

 

Another item… Make sure you don’t make any BIG purchases, or fail to pay your bills on time, or change jobs right before closing. You do not want to negatively affect your credit or change your debt/ratio, or not be able to have consistent employment prior to closing. If you have any questions, ask your lender.

An important item….You will need to obtain home owner’s insurance for your new home and contact the Title Company with the needed information about that insurance. Usually just providing the Title Company with the name and number of your Insurance agent, after you have told your Insurance agency what kind of coverage you want, is all that is needed. But the title Company cannot prepare your closing papers until you have provided this information. Don’t forget it!

Last minute items…At Home Creations, you will have a New Home Consultant who can help you with your walk through, schedule your closing, and remind you of what to bring to closing, such as; your ID, your spouse, a certified check made out to the Title Company, and where to go for closing.

The best peace of mind…is knowing you have Home Creations One Year Builder’s Warranty and ten year structural warranty after you close. It takes a lot of stress out of closing when you can trust your builder to come back and fix any defects that might have not been caught in your final walk through.

The BIG CLOSE, is an important event. Be sure and take a camera!