De-stressing your home purchase
The exact details of what you should check are too boring and tedious to show here, but they are all spelled out on my site. As an illustration, total fees due the lender shown as Item A on page 2 of the GFE should be exactly the same as line 803 on the HUD-1.
If you do the homework on loan documents outlined in this and the previous article, the actual closing should be a quick and tension-free ceremony.
The writer is professor of finance emeritus at the Wharton School of the University of Pennsylvania. Comments and questions can be left at www.mtgprofessor.com.
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