9 pitfalls that can trip up your loan closing | Infographic
Help borrowers avoid jeopardizing their loan approval
Nearly 1 in 4 home purchase contracts are delayed. Delayed closings can be disappointing and costly, but they are preventable. Many borrowers have no idea that certain actions can jeopardize the closing of their mortgage loan. Consider these stats*:
- 22% of home purchase contracts are delayed but ultimately close
- 5% of contracts are terminated due to buyers being unable to obtain financing
- 73% of home purchase contracts settle on time
An educational tool for your borrowers and real estate partners: Use this infographic to help your borrowers understand the many reasons mortgages fall through at closing and what actions to avoid doing while waiting for their mortgage loan to close.
*According to the National Association of REALTORS®
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Did you know that nearly 1 in 4 home purchase contracts are delayed? Discover the pitfalls to avoid during the mortgage process to help ensure your loan is approved on time.