Funding

The Signing

When the lender is ready to “close” your loan, or “fund” it, your real estate agent and your mortgage broker will have you sign the final loan documents. Signing will typically take place in front of a notary or an escrow officer. You will need to bring a photo ID, if you are purchasing real estate. Allow yourself enough time to review the documents for accuracy.

If funds are being wired: “Wiring instructions” direct the electronic transfer of money between financial companies. If possible, arrange to have the wiring instructions in place ahead of time and checked for accuracy by both the sender and recipient of the wire. It is critical that these instructions be exact, and even so, delays are all too common

Congratulations!

Your Title Company or Attorney will probably call you to confirm that the money has been transferred and the loan has closed. Always follow up with a phone call to confirm that your loan funds went where they were supposed to go. It is a good idea to keep record of this critical phase of the transaction once completed.