Texas Home Closing Checklist: 7 Mistakes to Avoid | San Antonio
You've found the house, negotiated the contract, survived underwriting, and finally made it to closing week. Don't let a preventable mistake jeopardize your mortgage at the finish line.
Buying a home in Texas involves quite a few moving parts. Between your lender, title company, insurance provider, Realtor, and the seller, there's a lot happening behind the scenes.
And while most buyers are focused on getting their keys, there are a handful of mistakes that can delay funding, create unexpected expenses, or even prevent the transaction from closing.
Here are seven things every Texas homebuyer should know before signing those final documents.
1. Wiring Your Closing Funds Without Verifying the Instructions
Let's start with one of the most expensive mistakes a buyer can make: wire fraud.
Real estate transactions are attractive targets for scammers because large amounts of money change hands.
Fraudsters sometimes impersonate title companies, Realtors, or lenders by sending emails that look nearly identical to legitimate communications.
They may claim that the wiring instructions have changed or that your funds need to be sent immediately to avoid delaying closing.
If you wire money to a fraudulent account, recovering it can be extremely difficult.
How to protect yourself:
Contact your title company using a phone number you've independently verified.
Confirm wiring instructions verbally before sending funds.
Never rely solely on emailed instructions or a phone number provided in a suspicious message.
Be especially cautious of last-minute changes to wiring information.
Confirm that the title company received your funds.
If you suspect you've sent money to a fraudulent account, immediately contact your bank and ask for a wire recall or fraud intervention. Report the incident to law enforcement and the FBI's Internet Crime Complaint Center.
A five-minute phone call could protect your entire down payment.
2. Opening New Credit or Financing Furniture Before Closing
I understand the temptation.
You've already picked out the sectional, found the perfect refrigerator, and discovered that the furniture store is offering 0% financing.
But please, wait until your loan has funded.
Many mortgage lenders perform additional credit or liability checks before closing.
A new credit card, auto loan, furniture financing agreement, or other debt could change your debt-to-income ratio or credit profile.
Even if you've already received a conditional approval or clear-to-close notification, significant financial changes may require your loan to be reevaluated.
That doesn't mean every new credit inquiry will automatically kill your mortgage.
It does mean you shouldn't make those decisions without discussing them with your loan officer.
My advice: Don't open new credit accounts, finance large purchases, or make significant changes to existing debt until your closing is complete and the transaction has funded.
That new living room set can wait a few more days.
3. Changing Jobs or Income Without Telling Your Lender
Mortgage approval is based partly on your employment and qualifying income.
Depending on your loan program, your lender may verify employment again shortly before closing.
If you've changed employers, switched from W-2 employment to 1099 contracting, reduced your hours, or experienced a change in compensation, your lender may need additional documentation.
Some employment changes are perfectly acceptable.
For example, moving into a similar salaried position within the same industry may be relatively straightforward under certain loan guidelines.
Other changes can create complications, particularly when income becomes variable or self-employed.
The mistake isn't necessarily changing jobs.
The mistake is assuming your lender doesn't need to know.
If an employment change is coming, discuss it with your mortgage broker before making the move whenever possible.
4. Skipping the Final Walkthrough
Your final walkthrough is one of your last opportunities to verify the property's condition before closing.
It's not a replacement for a professional home inspection.
Instead, it's an opportunity to confirm that the home is in the condition required by your purchase contract.
During the walkthrough, check that:
Negotiated repairs have been completed.
Appliances and fixtures included in the contract are still present.
Plumbing, electrical, HVAC, and other accessible systems appear to be functioning.
No significant new damage has occurred.
The seller has removed belongings as required by the contract.
The property is ready for possession under the agreed terms.
If you discover a problem, notify your Realtor before closing.
Depending on the issue and contract terms, the parties may need to negotiate a resolution, arrange additional repairs, or modify the closing timeline.
Once the transaction is complete, resolving certain issues can become much more complicated.
5. Ignoring Your Closing Disclosure Until Signing Day
For most consumer mortgages subject to the federal TRID disclosure rules, your lender must provide the initial Closing Disclosure at least three business days before consummation.
The Closing Disclosure summarizes the final terms and costs of your mortgage.
Review it carefully.
Pay particular attention to your interest rate, loan amount, monthly payment, closing costs, prepaid expenses, escrow deposits, and cash required to close.
Compare it with your most recent Loan Estimate.
Some amounts may legitimately change as the transaction progresses, but you should understand why.
Important: Receiving your Closing Disclosure doesn't necessarily mean every underwriting or funding condition has been satisfied.
It also doesn't mean every subsequent change requires a new three-day waiting period. Only certain changes trigger that requirement.
If something looks incorrect, contact your lender before signing.
Closing day is not the ideal time to discover that you misunderstood your mortgage payment or cash-to-close amount.
6. Forgetting About Texas Property Taxes and Insurance
This is particularly important for buyers in Bexar, Comal, Guadalupe, and surrounding Texas counties.
Your mortgage payment isn't necessarily limited to principal and interest.
Depending on your loan structure, it may also include property taxes, homeowners insurance, mortgage insurance, and other applicable expenses.
Texas property taxes deserve special attention.
If you're purchasing a home from someone who has owned it for many years, their current tax bill may not accurately reflect what you'll owe after purchasing the property.
Existing homestead exemptions, appraisal limitations, special exemptions, and changes in assessed value can affect future tax bills.
New construction properties can be especially tricky when the current tax assessment reflects primarily the land rather than the completed home.
Ask your lender to explain the property tax assumptions used in your payment estimate.
Also, make sure your homeowners insurance coverage is effective when required and that your lender has the necessary documentation.
If you're purchasing a property in an area with elevated flood risk, additional flood insurance requirements may apply.
Finally, don't forget to apply for your Texas residence homestead exemption after you qualify. Eligibility is governed by Texas law, and a qualifying owner may be able to apply during the tax year rather than waiting until the following January.
7. Assuming Signing the Documents Means You Own the Home
This one catches Texas buyers off guard.
You sit down at the title company, sign what feels like 400 pages, take a celebratory picture, and assume the house is yours.
Not necessarily.
In a typical Texas purchase transaction, signing and funding are separate milestones.
After the documents are signed, the lender may still need to review the executed closing package, verify remaining conditions, and authorize the release of funds.
The title company then completes the disbursement process.
Possession is determined by your purchase contract and any applicable temporary lease or possession agreement.
That means you shouldn't automatically schedule movers to arrive the moment you finish signing.
Wait until the title company and your Realtor confirm that the transaction has funded and you're entitled to possession.
Also, keep your identification current and bring the identification required by the title company. Expired or mismatched identification can create unnecessary signing complications.
Your Texas Closing Day Checklist
Before heading to the title company, make sure you've addressed the following:
Verified wiring instructions directly with the title company
Avoided opening new credit or making undisclosed financial changes
Confirmed employment and income information remains accurate
Completed or scheduled the final walkthrough
Reviewed the Closing Disclosure and confirmed cash-to-close
Verified homeowners insurance and discussed property tax estimates
Confirmed identification, signing arrangements, and possession terms
A Smooth Closing Starts Long Before Closing Day
A successful mortgage closing involves more than getting approved.
It requires communication between your mortgage broker, Realtor, title company, insurance provider, and everyone else involved in the transaction.
My job isn't simply to help you secure financing. It's to help you understand the process, anticipate potential problems, and get to the closing table prepared.
At Mpire Financial, I work with buyers throughout San Antonio, New Braunfels, Boerne, Bulverde, and the surrounding Texas Hill Country.
Whether you're purchasing your first home or your tenth investment property, I'll help you understand what to expect from application through funding.
Related reading: Jumbo vs. Conventional Loans in Bexar & Comal: Choosing What Fits Your Budget, The Truth About Rate Buydowns: Is a 2-1 or 3-2-1 Buydown Worth It Today? — and compare your options with Crystal: book a consultation.
Crystal Meyer | Mpire Financial
Mortgage Broker | NMLS #2636872
Phone: 228-671-7508
Website: www.closedwithcrystal.com
Ready to buy a home in Texas? Let's discuss your financing options before you start making offers.
