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How do I prepare for my refinance closing?
Once you have made the decision to
refinance your home, you'll want your transaction to progress as smooth
and efficiently as possible. In an effort to avoid potential
problems and delays, consider the following points. check with
your real estate agent to determine which ones apply to you.
- Bring a cashier's or certified check
to the closing for the amounts you must pay, not a personal check.
- Bring an original Homeowners Insurance
Policy to the closing along with a receipt for the first year's
premium. If you are refinancing a condominium, bring a
Certificate of Insurance instead. A Certificate of Insurance can
be obtained from your condo association or property management
company.
- Before the closing, contact your
lender regarding any additional requirements that must be satisfied
PRIOR to closing.
- Bring personal identification that
includes your picture and signature to the closing.
- If you have an existing mortgage, a
current pay off letter must be presented at closing. Contact
your lender for instructions on how to obtain a current pay off
statement.
- If you are going to be paying off
credit card balances at the closing, the most current statements must
be brought to the closing.
- If your property is a condo, bring an
assessment letter from your condo association to the closing.
- If your transaction requires a Notice
of Right to Cancel, disbursement may be delayed until the fourth day
following the day of the closing.
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