The culmination of a real estate transaction at which the property passes from the seller to the buyer. The lender funding the loan has the buyer (borrower) execute a note, indicating that the buyer will repay the loan, and a mortgage, indicating that property is collateral for the loan. In the case of a refinance, the loan proceeds pay off the previous loan and /or may be given to the borrower.
- NMLS ID#: 259353
A+ Rating
Never a complaint filed
