Your US mortgage closing FAQs

Yes. Upon your request, a UNFCU closing representative will send you all the closing documents prior to your scheduled closing date. Your representative will review the documents with you and explain the final breakdown of your closing costs.

We will schedule your closing in a location within the US that is convenient for you.

If someone you trust is able to attend, you can complete a power of attorney. This will give them the rights to sign documents on your behalf. We will need to approve the power of attorney form prior to closing. Please allow three business days for us to review and approve the completed form. Contact your mortgage representative to discuss other options.

You are not required to hire an attorney. In certain jurisdictions, it is customary and sometimes advisable to have an attorney represent you throughout the home buying process. Please discuss this with your mortgage representative.

You can use money gifted to you from a relative, domestic partner, or fiancée to pay for your down payment. We will need a letter from the individual who gave you this gift confirming the amount and their relationship to you. The letter should specify that you do not need to repay the amount you received as a gift. We also need a bank statement from the individual to show that they have the ability to give this gift. As a final step, we need to confirm that the money was transferred to your account.  

If financing more than 80% of the home's price, you must have at least 5% of the amount yourself. This would exclude any monetary gifts you receive.