Funding
Signing
When the lender is ready to close, or fund, your loan, they send the final loan documents to the escrow company. In most deals here you sign at the escrow office, or with a notary they arrange, usually a few days before the closing date. Ask your loan officer and the escrow officer ahead of time what to bring. It is normally a government photo ID, and a cashier’s check if you are not wiring your funds.
Give yourself enough time to read what you are signing, and check that the loan amount, the rate and the payment match what you were told. If something looks wrong, call your loan officer before you sign.
If you are wiring funds
Wiring instructions tell your bank where to send the money. Get them directly from the escrow company well ahead of time, and confirm them by calling the escrow office at a number you already know is theirs. Both the sender and the recipient should check them for accuracy. Treat any email that changes wiring instructions as a fraud attempt until you have confirmed it by phone, because wire fraud aimed at home buyers is real and the money is hard to get back. Send the wire early, too. Even with exact instructions, delays are common.
After you sign
The loan closes a little after you sign. The lender reviews the signed documents and then releases the money to escrow, and escrow records the deed with the county. In Washington the sale has closed once it has recorded and the funds are available. Your loan officer or the escrow officer will usually call to tell you it has funded, and we will call you when it records and let you know about keys.
Follow up yourself as well, with a phone call to confirm that the funds went where they were supposed to go. Keep copies of the final settlement statement and your loan documents somewhere safe.
That is the financing track. If you would like names of lenders we have worked with, or you are ready to start looking, get in touch.