Knowing your numbers
Hello everyone,
I just wanted to share a quick experience I have had with conventional lenders over the past 12 months.
There have been multiple times now that I received a closing statement with incorrect numbers. Mostly incorrect closing costs and I just wanted to caution/remind everyone to CHECK your numbers! Do not assume that what you receive from your lender is correct.
I am a full-time accountant and I have to admit that understanding the numbers and supporting schedules on a HUD statement is not all that easy. If you don't understand how something was calculated or where it came from; ASK!!!!
I went into a closing today and it happened again. I ended up saving $400 in closing costs that was very easy to miss.
I just wanted to let everyone know to check their numbers and don't assume things are correct.
Happy investing.
