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Post Closing - FAQS

FAQ

Now that your loan has closed, you may have some questions about what to do next. Please see below for some common questions that come up after closing.
When is my first payment due?

Your first payment date will be located on the documents you signed at closing. Look for the document named "First Payment Letter."

If you have any questions about your first payment please email us.

Should I continue to make payments on my previous mortgage?

Once your loan has closed and funded with LoanFlight.com, you should not make any further payments on your previous mortgage.

How do I get a copy of my signed closing documents?

Your title company will have a copy of your signed closing documents.

When will my property taxes be paid off?

Property taxes are disbursed based on the county due dates. If we are collecting taxes due at the closing, then they will be paid by the title company once the loan funds.

Who do I make my first payment to?

It will either be LoanFlight.com or your new servicer. We'll let you know within 30 days of funding.

If it's been 30 days and you have any questions about your first payment please email us.

Why hasn't my previous lender account been updated with my payoff?

It may take up to 30 days for the payoff to post, it depends on how quickly your previous lender processes their payments.

If you have questions about this, please contact your previous lender.

What happens to my previous escrow account?

Once the payoff is received by your previous lender, you will receive a refund from them for any funds remaining in your escrow account.

When will my loan fund?

The funding date of your loan can be found on your closing documents. It's found on the top left of the "Closing Disclosure" and is called the "Disbursement Date."

Who will service my loan long term?

Within 30 days of your loan funding, you will receive a letter from us with the information for your new servicer. 

Does LoanFlight.com service loans?

LoanFlight.com is a mortgage lender, however, we do not service loans long term. Your loan will be transferred to a servicer usually 30 days after your loan has been funded.

If it's been more than 30 days since your loan has been funded and you haven't heard from your new servicer yet, please send us an email and include your loan number.

When should I receive a refund for overpayment?

Once the payoff is received by your previous lender, you will receive a refund from them for any funds remaining in your escrow account.

I changed my homeowner's insurance after closing. How do I get a refund for monies paid at closing?

If there are any changes to your homeowner's insurance and you think you are due a refund, you will need to contact your previous insurance company.