Test your Knowledge
Which of the following should you do before closing on your loan?Check all that apply.
Before you close on your loan, you want to make sure you have all of your documentation sent to the lender, have obtained homeowners insurance, confirmed and locked in your interest rate and reviewed your closing disclosure and outstanding fees.
Test your Knowledge
You don't need to read every piece of paperwork you sign at closing.While it may be tempting to just sign without reading, it's extremely important to understand all documents you are signing since they're legally binding.
Test your Knowledge
What does a title company do?Check all that apply.
The title company will run a title search on the property to determine legal ownership, including any outstanding claims or liens on the property. Then, they'll issue the title insurance for that property. They will also make sure the deed is recorded properly with the new owner.