From Underwriting to Closing Day

Keep the file current

Between application and closing, respond to the lender’s written document requests and report material changes promptly. Keep all estimates, insurance communications, inspection follow-ups and contract addenda in one place. The goal is not to predict underwriting, but to prevent a final review from relying on stale or incomplete information. Ask the lender which items remain open and which date controls each request.

• Use a single dated folder for documents sent and received.
• Confirm the closing date, possession arrangement and walkthrough timing from the transaction documents.
• Ask who is responsible for each unresolved item.

Compare the final disclosure

CFPB says lenders generally must provide the Closing Disclosure three business days before scheduled closing. Compare loan term, product, loan amount, interest rate, estimated total payment, closing costs and cash to close with the most recent Loan Estimate. CFPB advises asking the lender why a material item differs. The final form is a review opportunity, not a substitute for asking questions about a term you do not understand.

• Check the borrower names and property address.
• Confirm whether taxes, insurance and assessments are escrowed or separately paid.
• Ask the lender to explain changed fees, credits, points or cash-to-close figures.

Finish with verified instructions

Confirm the settlement professional’s identity and payment instructions through a trusted, independently obtained contact channel before moving funds. Review final ownership, insurance and possession documents with the appropriate professionals. This checklist does not replace lender, settlement or legal advice.