Below are a few suggestions of items you can do ahead of time to ensure a successful closing:
- Work with your Mortgage Loan Originator to ensure you provide any additional information and/or documentation required at the time of your loan approval.
- Work with your Mortgage Loan Originator to select a Regions Mortgage approved Closing Agent for your loan closing.
- Confirm with the Closing Agent if a certified check or money order is required at closing. Personal checks are not typically allowed.
- Obtain homeowner's insurance. This required insurance protects you against loss or damage due to theft, fire, or certain weather-related hazards. In some areas, it may also be necessary to obtain flood insurance.
- Schedule a final walk-through of the home to ensure any required repairs and/or improvements have been completed.
- Ask your Mortgage Loan Originator to review the final estimates of your closing costs with you at least 24 hours prior to closing.
At the closing, you'll receive and review some very important documents. If you have any questions about the loan closing documents, please ask the closing agent or your loan originator. You shouldn’t sign final loan documents until any issues are resolved. Here are some documents you'll receive or review at your closing:
HUD-1 Final Settlement Statement
This is an itemization of all funds and costs paid by the buyer and seller either at, or prior to, closing. These items should closely reflect the amounts disclosed to you on your Good Faith Estimate (GFE)
Truth-In-Lending (TIL) Disclosure
This document provides important information about your loan. It includes the APR (Annual Percentage Rate), finance charge, amount financed, total of payments, and payment schedule.
Deed of Trust or Mortgage
This document states that Regions receives a lien on your property as security for your loan.
The Note
The note is your binding legal agreement to make payments according to the terms of your mortgage.
Whatever your home financing needs, Regions Mortgage is here to help you every step of the way. Please locate a Regions Mortgage Loan Originator or give us a call today at 1-877-536-3286 and we will be happy to assist you in selecting the right loan or answering any questions you may have.
