Step 21 to Buying a Home: What Is Clear to Close?
Very soon we should receive what’s called the Clear to Close from your mortgage lender and underwriter. What does Clear to Close mean? Clear to Close means that the lenders and underwriters have looked at all of the paperwork, your bank accounts, etc. and have approved the loan. By giving us the Clear to Close they are saying we can move forward with the closing and that they will fund the purchase of your new home, which is great news!
Once the Clear to Close is received, the attorneys will schedule the closing date, time and location and will notify us all once it has been scheduled. In addition, we’ll schedule the final walk through of your new home, which is usually conducted the day before closing.