Keep your closing documents

Store the final Closing Disclosure, appraisal, title documents and insurance information somewhere secure and easy to find.

Watch tax and insurance notices

Review property-tax assessments, insurance renewals and escrow analyses when they arrive. Changes in taxes or insurance can affect the total monthly payment.

Review beneficiaries and protection

A home purchase is a good reminder to revisit estate documents, beneficiaries and appropriate insurance coverage with qualified professionals.

Revisit the mortgage when life changes

A career move, growing family, investment purchase or retirement decision can change what you need from your financing. The review should begin with the new goal, not with a product.

Treat equity as part of the balance sheet

Home equity can create options, but borrowing against it also creates cost and risk. Compare any equity strategy with alternatives and the effect on long-term debt.