1. Update Your Loan Officer

Communicate any changes in your life that could impact your finances, banking, or credit, to your Loan Officer immediately. It’s better to deal with a change in your situation early rather than hope it doesn’t become an issue.

2. Work-from-Home Contact Information

Provide your Loan Officer and team with alternate contact info to reach your employers, financial advisors, and other parties, especially if they are working remotely. This will save time and stress for any last minute

3. Current Paystubs

Be prepared to provide updated paystubs throughout the whole process, even right before closing. Because many people are experiencing a sudden change in employment status due to the COVID-19 pandemic, verification of employment and salary has become especially stringent. You might be asked for employment verification even on the actual day of your real estate closing. Your Loan Officer should ensure that you close on time and are in the best position to do so.

4. Communicate Promptly

Mortgage timelines are time-sensitive and even more so during the Covid-19 current environment, so be prepared to provide documentation in a timely manner so your transaction can close on time and on schedule. Respond to phone calls, emails, and texts from your Realtor and Loan Officer as quickly as possible.

5. Provide Documents Quickly

Understand that home loan guidelines are changing rapidly - sometimes daily - during the COVID-19 pandemic, and often without notice. These are challenging times. If additional information is required because regulations or guidelines have been changed, returning extra documents in a timely manner will make it easier on all parties.

6. Ask Questions

If you don’t understand something, ask questions! Change may be the new normal due to COVID-19, so even if you have gone through the home loan process before, procedures and processes may be different. Buying a home is complex, and your Loan Officer is happy to guide you through the current process and explain changes resulting from new guidelines - on everything from digital appraisals to contact-less closings - as needed.

7. Trust Your Loan Officer

Relax! If you have carefully selected an experienced Realtor and a top-notch mortgage company, you should trust that you are working with professionals that care about you and are here to work with you and for you.



COVID-Proof Closing Tips contributed by