Many factors can impact your closing date. Let’s talk about two–your written Loan Estimate and your final Closing Disclosure.
These government-designed forms help you understand the full costs of your mortgage loan, and you must receive them within a certain time frame. If loan changes occur, especially late in the process, proper issuance of these forms could cause delays.
Examples of significant changes that could trigger a Revised Loan Estimate include (but are not limited to) setting your rate lock or making any change to loan type or loan amount.
If a Revised Loan Estimate is required after the Closing Disclosure has been issued, a new Closing Disclosure form must be provided and the closing could be delayed.
These disclosures and their required timing exist for your protection. We assure you we will do what we can to get you to the closing table on time. If you have questions about the forms or the timetable, please ask. We are here to help.