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3 Important Documents For Homeowners To Have


Here are three important documents that homeowners should have...


Deed

At closing, your escrow officer will send you a complete set of the closing documents. These documents range from the preliminary title report to HARPTA and FIRPTA. One document that is particularly important is the deed. The deed is the document that shows you are now the new owner of the property.


Mortgage Note

Most buyers will finance their purchase via a mortgage. The mortgage note is a promissory document between you and the lender. This documents spells out the terms of your mortgage:


- Interest rate

- Terms of your loan (fixed vs. ARM, etc.)

- Payment due dates

- Late fees


Insurance Policy

Most insurance providers allow you to view your policy online. However, it's also recommended to keep a hardcopy of your policy too. Every year (or maybe every 6 months) you should review your policy with your insurance agent.


For example, let's say you purchased a lot of valuable things (TV, computers, clothes, etc). If your home catches on fire, will your personal belongings be covered?


- Roda


#RyanOda #HomeOwnership #Buyer #Insurance #Mortgage #Deed


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Ryan Oda (RB-23073) is a Real Estate Advisor with Forward Realty (RB-19423) in Honolulu, HI.