Do you need a funding number at closing

DDA Mortgage • August 26, 2019

Do you need a funding number at closing? The short answer is NO, but there are a few things you need to know.

You might not need a funding number at closing, but you do need these other things. Be prepared to avoid costly mistakes at closing.
  • Transcript

    didier at diddy a mortgage do you need a

    00:03

    funding number the answer's no when you

    00:06

    have a closing there should be no

    00:07

    funding number required anymore with the

    00:09

    levies that we have if not required at

    00:11

    all so when your last signature on those

    00:14

    documents there are free to release the

    00:16

    funds

    00:17

    now the lenders do want the package

    00:19

    scanned an email to them that day but

    00:22

    there is a thing that says funded now

    00:25

    when does a funding number get required

    00:27

    I'm gonna tell you so if you have a home

    00:29

    that's closing and you're gonna close on

    00:32

    your home in the morning and then close

    00:34

    on the new home right afterwards that's

    00:37

    gonna require a funding number because

    00:38

    they want to look at the CD of the sale

    00:40

    of your home so your job for the broker

    00:43

    and the lender is to get that CD as

    00:45

    quickly as possible you know it's gonna

    00:47

    be finalized a couple days before

    00:49

    closing get that CD with the new lender

    00:52

    that you're closing with to get it

    00:54

    signed off on so it's not required to

    00:56

    get a funding number sending everything

    00:58

    over there but overall just to share

    01:00

    with you know funding numbers are

    01:02

    required you need to fund the package

    01:04

    release the funds and of course the

    01:06

    package must be emailed that day as well

    01:09

    as overnight at that night I'm didier

    01:11

    Ginny a mortgage have a great week

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