You closed on your home, now what?

You just finished signing all the forms at the title company, you have your keys to your new home, now what happens?

For most, the first thought is moving – you want to get into the new home, clean and paint maybe, but move everything in and get settled. What else do you need to remember?

In Minnesota, you want to make sure you file for homestead status.  The closer will give you instructions on where to go, but make sure you do it!  It will keep your home in homestead status – basically saying it is your primary residence. That helps lower your property taxes and also gives you some legal protections as a primary residence.

You will want to update your driver’s license to your new address along with forwarding your mail. Make sure you set up all your utilities – electric and gas are easy to remember but don’t forget about phone, water, TV, internet, etc!

Watch your mail – you will get lots of different offers from home security to credit cards to lawn care.  When you buy a home with a mortgage, the mortgage gets filed at the county and that is a public document. Many companies buy lists of new homeowners so they can mail offers to you. There are some pieces of mail that you want to make sure you open!  Your mortgage may get sold – watch for a “thank you” letter from the company that originated your loan and a “welcome” letter from your new servicer. Nothing can change in the terms of your loan, just where you make your payment. It may not get sold immediately, but some mortgage companies hold the loan and may sell it a few days, months or years after it was originated. If you aren’t sure, contact your loan officer and make sure what you are seeing is accurate. You may get an offer to pay a fee for a copy of your deed – you will get a copy of it from your closer, you do not need to pay for that.

I always tell clients to call me with questions – I would rather have a phone call or email if you aren’t sure about something!  Buying a home is a big investment and an exciting time – there are always things you may forget or just be unsure about. Please call – I want to make sure you know what is going on – most loan officers feel the same way – don’t be afraid to contact us after you have closed! I know I would rather have you ask a question than wonder about something! Enjoy your new home too!

Leslie Vanderwerf,  NMLS ID#335509, American Mortgage & Equity Consultants, Inc., An Equal Housing Lender, NMLS#150953 – Email – Website