Tips for Buyers at the Closing Table

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Tips for Buyers at the Closing Table

Once a buyer has made a commitment to purchase a home, there are a set of guidelines to follow to make the process go smoothly.  Follow these tips and there will be less headaches along the way.

1.  Avoid any major changes to financial accounts and credit card limits from loan pre-approval to closing your home.  Lenders will closely scrutinize your credit report during this time and you will have to explain any major changes to your financial status.

2.  Be honest to your loan officer about your financial situation.  New mortgage guidelines require verification of all loan applications.

3.  Review your closing documents in advance.  Confirm the interest rate, monthly payment, term and any other details.  This allows time for the lender to make the necessary revisions which can save time and money.

4.  Be aware of all deadlines. Especially time limits for offers, approvals and inspections.  This could save you additional fees at closing.

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