How to Close on Time – Assets


How to Close on Time – Assets.

via How to Close on Time – Assets.

 

« 
 »

How to Close on Time – Assets

September 30, 2013 by Mark Aalto MLO #116708

 

1 Votes


Finance

Finance (Photo credit: Tax Credits)

This week we’re going to focus on the role that assets play with transactions.  When it comes to funds to close, improper documentation and lack of documentation are the biggest reasons mortgages close late.

Team Aalto assets tips:

  1. Fully document all deposits.  These days lenders need to know exactly where your deposits came from.  If it wasn’t from an electronic paycheck deposit, you’ll need to provide a complete paper trail to your lender.
  2. Provide all pages of bank statements and investment accounts.  Yes, even the blank pages.
  3. Request and deposit funds early.  It may take two to three weeks to get 401k funds so request them early.  If you are receiving a gift, get the funds and the documentation before you have an accepted offer.  In both cases, your Bank may not give you access to the funds right away so the earlier the funds are deposited the better.
  4. Stop transferring funds all over the place.  Lenders need to get an accurate snapshot of how much money you have to work with – when funds are transferred constantly it makes it really difficult to verify funds to close.
  5. We understand that finding and providing documentation isn’t the highlight of the day.  Our job is to get your loan closed on time – we all need to work together to make sure all needed items are submitted to underwriting as quickly as possible.

As is always the case, provide all documentation requested by your lender at the beginning of the process – that gives us plenty of time to review your documentation and catch any things that might delay your closing.

 

Unknown's avatar

Author: Kentucky Mortgage Broker Offering FHA, VA, USDA, Conventional, and KHC Down Payment Assistance Home Loans

Thank you for visiting. I hope you find this website both informative and empowering as you explore your mortgage options. My goal is to help you feel confident in selecting the right home loan for your unique situation. I proudly serve all 120 counties in Kentucky, offering a full range of mortgage loan programs, including: FHA Loans VA Loans USDA Rural Housing Loans Fannie Mae Conventional Loans KHC Down Payment Assistance Programs With over 20 years of lending experience, I’ve had the privilege of helping more than 1,300 Kentucky families achieve their homeownership goals. Whether you're a first-time homebuyer or seeking a second opinion, I’m here to offer honest, no-pressure advice—always free of charge. I am dedicated to: Attending as many closings as possible Providing responsive, personalized service Ensuring quick, efficient, and accurate loan processing Making myself accessible every step of the way I've been consistently recognized as a top mortgage loan officer in Kentucky for VA, FHA, USDA, and KHC programs. I take pride in being thorough, transparent, and attentive with each and every client. Please take a moment to read my reviews below. If you have questions or need guidance, feel free to call or text me directly. Call/text at 502-905-3708. Free Mortgage Pre-Qualifications same day on most applications. Email me at kentuckyloan@gmail.com with your questions I specialize in Kentucky FHA, VA ,USDA, KHC, Conventional and Jumbo mortgage loans. I am based out of Louisville Kentucky. For the first time buyer, we offer Kentucky Housing or KHC loans with down payment assistance. This website is not an government agency, and does not officially represent the HUD, VA, USDA or FHA or any other government agency. NMLS# 57916 http://www.nmlsconsumeraccess.org/ Joel Lobb Senior Loan Officer/p> call/text phone: (502) 905-3708 kentuckyloan@gmail.com Company ID #1738461 EQUAL HOUSING LENDER http://www.mylouisvillekentuckymortgage.com/

2 thoughts on “How to Close on Time – Assets”

  1. Pingback: How to Close on Time – Assets Bank Statement Basics for A Kentucky Mortgage Loan Approval for USDA, KHC, FHA, VA, Fannie Mae and Rural Housing Mortgage Loans! | Kentucky USDA RHS Rural Housing Mortgage Loans

Comments are closed.