In this video, we break down 10 essential steps you can take to help create a smooth mortgage closing — whether you’re buying your first home or your next investment property. These aren’t just tips, but proven strategies used by industry pros to avoid delays, repulls, and unexpected last‑minute issues.
You’ll learn:
1. Keep Your Finances Stable
• Why it’s critical to keep your finances stable — Mortgage lenders re-verify your finances just before closing. Sudden bank deposits, large purchases, or new loans can trigger re-underwriting, delaying closing by 1–2 weeks.
Example: If a buyer deposits a $20,000 gift into their account without documentation, lenders may pause closing until they verify the source.
Avoid big bank deposits, credit changes, or large purchases during processing. Shannon Christenot+2First Mid Bank & Trust+2
2. Submit Required Documents Promptly
Missing paperwork is the #1 reason for delayed closings. Provide pay stubs, bank statements, tax forms, and identification as soon as requested. According to the Mortgage Bankers Association, missing documents can delay closings by an average of 5–7 days.
• The importance of submitting all required documents early, and promptly responding to lender or title‑company requests. Patten Title Company -+2Paperless Pipeline+2
3. Avoid New Credit Applications
Opening new credit cards or loans within 60 days of closing can lower your credit score and trigger lender re-verification. Even small inquiries can increase risk flags.
Data Point: Each hard credit inquiry can reduce your score by 5 points or more, potentially affecting loan approval.
• Why you should skip new credit applications, avoid co‑signing loans, and refrain from closing/ consolidating credit cards until after closing. Shannon Christenot+2First Mid Bank & Trust+2
4. Prepare Down Payment & Closing Funds Early
Lenders need to verify that your funds are liquid and ready. Funds should ideally be in a checking or savings account for at least 60 days. Avoid last-minute transfers, as unexplained deposits can trigger delays.
• How to prepare your down payment and closing funds ahead of time, ideally in a liquid, stable account — no last‑minute scrambling. Marimark Mortgage+2Patten Title Company -+2
5. Schedule Home Inspections & Walk-Throughs Timely
Inspection delays are common. According to Zillow, 25% of delayed closings are due to inspection or repair scheduling conflicts. Schedule your inspection early and coordinate with your agent to address any issues promptly.
• The value of a timely title search, home inspection scheduling, and final walk‑through to catch issues before signing. My Home+2The How-To Home+2
6. Review Closing Disclosure Carefully
Your Closing Disclosure (CD) shows final loan terms and costs. Federal law requires lenders to provide it at least 3 business days before closing, giving you time to verify numbers. Catching discrepancies early prevents last-minute surprises.
• Why reviewing your Closing Disclosure carefully and early is one of the most important steps to avoid surprises at the table. Navy Federal Credit Union+2The How-To Home+2
7. Communicate With All Parties
Frequent communication between your lender, title company, and agent reduces errors. Studies show that real-time communication tools can reduce closing delays by up to 30%.
• How coordinating closely with your lender, agent, and title company helps keep everyone on the same page and prevents errors. Paperless Pipeline+2Patten Title Company -+2
8. Avoid Large Non-Payroll Deposits
Unexpected deposits or large transfers can prompt lender verification. Keep funds stable and documented. A sudden $10,000 deposit can delay closing by 3–5 days if verification is required.
• The reason you should avoid large non-payroll deposits, sudden employment changes, or big purchases — any of those can trigger new underwriting or re-verification. Shannon Christenot+2Movement Mortgage+2
9. Don’t Change Jobs or Income
Lenders need stable income verification. Avoid switching jobs, reducing hours, or leaving your employment before closing.
10. Know Your Timeline
Be aware of your lender’s and title company’s requirements and deadlines. Staying proactive reduces stress and prevents last-minute surprises.
If you follow these 10 steps, you’ll be far more likely to enjoy a smooth, on‑time mortgage closing — with fewer headaches and surprises.
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