Funding

The Signing:  When the lender is ready to ”close” your loan, or “fund” it, Signature Properties and the mortgage broker will have you sign the final loan documents.  Signing will typically take place in front of a notary or an escrow officer and in our area this is typically done at a Title Company or at an attorney’s office.  You need to take a photo ID and perhaps a cashiers’ check if you are purchasing real estate.  Allow yourself enough time to review the documents for accuracy.

Wiring Funds:  “Wiring instructions” are financial institutional instructions that 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 mortgage broker 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 records of this critical phase of the transaction once completed.

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