Financing & Closing
6. Secure your financing
7. Close the deal!
Once you have a fully executed Contract
of Sale, it is time to go back to your lender
to formally apply for the mortgage. You will
be provided with an extensive list of documentation that the lender needs to fully
underwrite the loan. Pages 7 and 8 of this
Guide provide more guidance about the
process of selecting a lender and evaluating financing options.
The moment has finally arrived. Here are
the key steps to closing the deal:
The documents generally include:
• Your last two years’ tax returns
• Recent pay stubs
• Copies of divorce decrees or separation
agreements
• Brokerage statements
• Social security and pension payments;
and any alimony and child support
documents
(Note: not every one of these applies to every buyer)
As noted in the section on loan preapproval, if you have already been
pre-approved with a lender, this process
should be fairly straightforward. Once you
have