Clear to Close On Mortgage (Clear To Close) | #loanwithjen #cleartocloseonmortgage

Clear To Close On Mortgage. Are you curious about what the term “clear to close” means during a mortgage transaction? Are you wondering what is required before a transaction is clear to closed? Well this video is just for you! In this video I go over what clear to close is and what you will need to be able to finish the clear to close part of your mortgage transaction. Stay tuned for more!

Alright, so today’s lesson will be about the term “Clear to Close”. Clear to close basically means that the transaction is ready to go to the closing table, which is where the final arrangements of the mortgage deal will be finished, thus closing the transaction. Before moving to the closing table, some requirements are needed to be met, so we listed what you would need to complete the clear to close category.

Now, in order for your mortgage transaction to be able to get that clear to close checkmark, you must have certain requirements met. These requirements are usually viewed by an underwriter and approved so they can cross them off the list. First off the transaction has to approve the borrower of the mortgage deed. In order for this step to be considered complete they will need to provide the correct documents to be reviewed by an underwriter. These documents are their income, assets, and everything else that falls under that category. They also have to clear the property, which means that the property appraisal is finished, ordered, received, and
considered complete. In addition this also includes a reviewed title commitment that matches the standards of a clear title which is also located under the property section. Finally, the insurance is also an important factor because if you do not have the insurance it can delay the
transaction for a while. Once all of the requirements above have been completed and reviewed by an underwriter, the transaction is ready to move onwards to the closing table. The closing table in Texas for example is the title company to complete the transaction.

And that is about it for clearing to close on a mortgage deal! Oh, and one more thing while you’re down here, go ahead and hit that subscribe button and turn up notifications as I release two new videos a week that you would not want to miss out on them. Stay tuned, for I will be the first to update you if there are any changes or modifications that there will be on forbearances
and other changes related to COVID-19. My main goal is to help you understand how to obtain mortgage(s) to help grow your portfolio!

You can also check out our playlists that feature various topics about homebuyer’s tips that will help you grow both as a homeowner level and on a consumer and producer level basis. If you are still seeking or wanting further information on specific topics that follow, please check out
our specific playlists that we created to follow up on topics like Down Payments, Interest Rates, and many more topics! You should check out our custom playlist and tell us what you think about them in the comments below!

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Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497

📌More Helpful Content:

[Fatboy]

You helped me a lot I am nervous we close the 10th of June and are waiting to get are notary we are moving from California to Texas loved it while I was station there so I’m happy to be going back

[missbnatural]

We close on April 8 still only in approve with conditions. The appraisal was done and came back good. Got our insurance as well. When should we know something

[alexusjourney]

Do you do homes in Florida? Please say yes!