Step 27: What is Clear to Close?
After all this we should be receiving the call from your mortgage lender and underwriter known as Clear to Close. What does this mean? This means that the lenders and underwriters have taken a thorough look at your bank account and all of the paperwork and has approved you for the loan. When they give the official Clear to Close this means we are set to move forward with closing and they are going to officially fund your new home!
Once the clear to close is received, escrow will schedule the closing date, time, and location and will be notifying all parties involved once everything is scheduled. We will also be scheduling your final walk through of your new home which typically happens the day before closing.