The closing date is one of the most critical dates of a real estate transaction. Sometimes buyers want to move the closing to an earlier day, but it’s not always simple. Mortgage lenders have many steps to follow before preparing for a closing and the final figures are necessary.
Loan rules and timelines
Due to the regulatory process, mortgage lenders must be able to provide certain disclosures ahead of time, like the Closing Disclosure, which outlines the final loan terms and costs.
The Closing Disclosure must be delivered to the borrower at least three business days before the loan closing. If this moved to an earlier date, there may not be enough time to meet this requirement.
Waiting for final loan approval
Before closing, the lender has to double-check income, employment, credit, and final property details. These verifications protect both the buyer and the bank. Rushing them could lead to errors—or even delay the deal further if something is missed.
Coordinating buyers, sellers, and agents
Buying a home involves more than just the buyer and seller. Mortgage lenders, appraisers, title companies, insurance agents, and escrow officers are all a part of the process, with their own timelines and documentation required and can follow a trigger of delays if not coordinated well in advance.
Closing escrow early can be possible but requires significant coordination. Buyers can help by staying organized, responding quickly to lender requests, and providing paperwork as soon as it’s needed.
If you have further questions, please contact our office at (760) 930-0569 to speak with one of our Mortgage Loan Originators.
