Mortgage Post Closing

The final step in the mortgage process for a borrower is post closing. Once complete, the borrower has fulfilled all of the required obligations required to complete the transaction. Essentially, post closing is the collection and double checking of certain documentation that has been obtained during the process.

The documents required for post closing can include but are not limited to: deeds of trust, title policies, insurance policies, closing disclosures, and mortgage insurance certifications from the FHA.

It is also key to double check all documents related to the mortgage loan and property for accuracy. This includes the loan application and all the underwriting documents. It is also recommended to check the underwriter’s decision for approving the mortgage. Be sure to do a final compliance check with the government. This includes federal, state, and local regulations.

Once all of the above is complete, be sure to make copies of all the documents in question and keep them organized. That way if the need ever arises, you can access the documentation easily. If you have a lawyer on retainer that is assisting you with your property investments, you should provide them with a copy as well.

After all of this is complete, all that is left for you to do is enjoy your property! If the purpose of the property is a buy-to-rent investment, be sure to keep documentation on the renter as well. This includes payslips, background checks, and the lease agreement.

Keeping all documentation organized and in one place is of great importance when dealing with property.

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