Specific Loan Closing Instructions - Never seen these things required at Settlement Before
David had a great post about "Extra" items required at settlement... did you miss it? If so then feel free to chime in... we are seeing so much these days aren't we? Love to hear some more comments on this...
1.) Buyer must have minimum of 3.5% into the property at closing
2.) Final HUD to reflect an earnest money deposit of $1000.00
3.) Cash from borrower at closing not to exceed $12,617
4.) Borrower to Sign 2007 and 2008 tax returns
5.) Borrowing to provide most recent pay stubs at settlment.
6.) Borrower to sign hotel and transient Use Form
7.) Title to be clear of all liens and judgements
Okay some of these are fairly normal. Obviously being an FHA loan I don't have a problem with #1,2, or 7. All of those seem to be reasonable. This is the first time I've seen a request for the buyer to bring pay stubs and sign taxes at settlement. Did I miss something?
Also I've never even heard of a hotel and transient Use form. Someone enlighten me....?
David Monsour, Realtor with Prudential Bob Yost - Sites Homesale
Buying, Selling, or know someone that is? Call me I'd love to help.
Cell 717-319-3408
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