If you’ve ever done a real estate or mortgage transaction, you may have heard the terms “wet close” or “dry close” mentioned by your loan or closing agent. These terms are basically mortgage lingo and refer to how the lender is required to close and fund your loan. It’s not essential that you know all the details associated with a wet close or dry close, but it’s useful to have a general understanding of what they are and how they’ll impact your next mortgage transaction. Continue reading →