Once your loan is approved, you are even closer to buying your home, but there are still a few important steps before you officially own the property. But what happens after the mortgage approval, and what are these steps we mention?
Thankfully, nothing particularly challenging. The truth is that at this next stage, most of the action happens between your lender, the title company, and the people handling the paperwork.
Your job at this point is to understand the timeline and know what to expect during the real estate closing process in Houston. To help you understand, here are the main points.
What Happens at Closing
Closing is the appointment where everything becomes official. First of all, you will meet with the title company’s representative, usually the escrow officer or a notary.If you have never been through it before, the escrow officer’s role in closing is really quite simple: they guide the signing session, check your ID, confirm the documents are correct, and make sure signatures land exactly where they should.
They don’t actually represent the lender or the seller. Essentially, they are there to keep the process neutral and orderly.
During this process, you can expect to sign several lender documents, including:
- The final loan agreement
- The closing disclosure
- The deed and title transfer
- A stack of acknowledgments required by the lender
Mortgage Funding Explained
Once you have signed, the loan still needs to be funded. Funding is the point at which your lender releases the money to the title company, allowing the seller to be paid. Nothing becomes official until this step is complete.The title company reviews the documents, confirms everything is signed correctly, and then contacts the lender for approval. After that, the lender sends the funds through a wire transfer.
Once the wire arrives, the title company disburses the money to the seller, records the deed with the county, and lets everyone know the deal is complete. Your real estate agent usually gets the first call, then you get the happy second call.
Common Delays & How to Avoid Them
Closings do not usually fall apart too often or easily, but delays do happen, on occasion. Most issues come from three areas:1. Wire Transfer Glitches
Banks have strict fraud controls, and sometimes wires are held temporarily. Sending wires early in the day helps reduce the risk of same-day delays. Always confirm wire instructions verbally with the title company before sending anything.2. Missing or Incorrect Documents
A single unchecked box can slow down funding. The title company reviews most of this, but having a simple closing checklist for a home loan, such as ID, disclosure, and required funds, helps you stay on top of things.3. Title Company Errors
Occasionally, a typo or missing signature forces the paperwork to be redone. These issues are usually fixed quickly, but they can push the timeline by a few hours.Knowing what happens after mortgage approval makes these delays easier to handle. Most of the time, they’re minor bumps, not deal-breakers.
Networth Builders’ Role in Your Closing
Even though closing is handled by the lender and title company, our team never steps back at the end. We remain firmly in the loop to keep everything moving along efficiently.- We stay in contact with the lender to make sure funding is on schedule.
- We coordinate with the escrow team so documents are prepared correctly.
- We double-check wire instructions with you, helping prevent last-minute surprises.
- And once the deal closes, we keep supporting you so you know what comes next, from storing your documents to preparing for your first payment.
With the right support, the final steps are nothing more than a straightforward handoff. That’s where Networth Builders can help.