I’m seeking to interview real estate agents, business/finance faculty, personal finance experts, real estate attorneys, and other professionals for the following story (no lending professionals please): What to do after closing on a home. My deadline for written answers to these questions is 1 PM Central, Thursday, November 6, 2025. QUESTIONS: 1. Please fill your name in this blank and email me back this entire paragraph along with your written responses to the rest of the questions below: I, _______________(INSERT YOUR NAME) hereby give my permission to Rocket, LLC and its affiliates, agents, and partners (“Authorized Persons”) to use my name, likeness, and any quotes, statements, or media I provide (collectively, “Materials”) for marketing, advertising, or promotional purposes. This includes use on websites, social media, digital or print ads, and other marketing platforms. I understand that my quote(s) may be edited for clarity or length but will not be misrepresented. I confirm that my statements reflect my honest opinions and experiences. By sending this electronic email, I grant Rocket, LLC the right to use these Materials and my Likeness without further approval or compensation. I also release Rocket, LLC from any liability related to the use of this content as outlined above. 2. When is your first mortgage payment due and how is this payment made? What other methods should be considered to make future mortgage payments easier (e.g., auto pay, biweekly payments, etc.)? 3. What should you account for when creating a budget for your new home, including mortgage payments, utilities, maintenance, property taxes, etc.? Why is it important to budget wisely and plan ahead, especially when it comes to filing taxes? 4. Why is it important to save for unexpected or desired upgrades to your home, and what is the range you should set aside in an emergency fund? 5. What documents should you organize and store carefully (deeds and titles, closing disclosures, insurance binders, etc.)? 6. Why is it important to verify that your deed has been recorded properly, and how can you verify this? 7. Why is it important to update your address after taking possession of your home, especially with USPS, DMV, banks, employers, etc.? 8. Why is it important to review your homeowners insurance and warranties and what types of policies should be reviewed? 9. Why is it important to check, repair, or install CO2 detectors, smoke detectors, and security systems?  

I, Pouyan Golshani, hereby give my permission to Rocket, LLC and its affiliates, agents, and partners ("Authorized Persons") to use my name, likeness, and any quotes, statements, or media I provide (collectively, "Materials") for marketing, advertising, or promotional purposes. This includes use on websites, social media, digital or print ads, and other marketing platforms. I understand that my quote(s) may be edited for clarity or length but will not be misrepresented. I confirm that my statements reflect my honest opinions and experiences. By sending this electronic email, I grant Rocket, LLC the right to use these Materials and my Likeness without further approval or compensation. I also release Rocket, LLC from any liability related to the use of this content as outlined above. 1. First mortgage payment: Usually due the first full month after closing. Set up auto pay or consider biweekly payments to stay ahead and pay down faster. 2. Home budgeting: Include taxes, utilities, insurance, maintenance, and unexpected costs. Budgeting now helps avoid surprises—especially come tax season when deductions apply. 3. Emergency funds: Save 1-3% of the home's value annually for repairs or upgrades. Even new homes have surprises. Planning gives you flexibility. 4. Must-keep documents: Store the deed, title insurance, disclosures, inspection reports, and insurance policies. Confirm that your title insurance is active—it's critical if issues arise later. 5. Home warranty protection: If you purchased a warranty like American Home Shield, know what's covered. Claims may be denied for preexisting issues—so ensure a thorough inspection report is on file. That documentation can protect you. 6. Verify deed recording: Make sure your deed is recorded with the county—it confirms legal ownership and prevents future title disputes. 7. Address changes: Update USPS, DMV, banks, and employers promptly. It's small but critical—especially for tax documents and billing. 8. Insurance & safety: Review your homeowners policy and warranties. Make sure smoke and CO2 detectors are working, and consider a basic security system. These small steps matter for long-term safety. —Pouyan Golshani Investor & Consultant | gighz.com | onewordsystem.com | guide.md

I, Jack Ma, hereby give my permission to Rocket, LLC and its affiliates, agents, and partners ("Authorized Persons") to use my name, likeness, and any quotes, statements, or media I provide (collectively, "Materials") for marketing, advertising, or promotional purposes. This includes use on websites, social media, digital or print ads, and other marketing platforms. I understand that my quote(s) may be edited for clarity or length but will not be misrepresented. I confirm that my statements reflect my honest opinions and experiences. By sending this electronic email, I grant Rocket, LLC the right to use these Materials and my Likeness without further approval or compensation. I also release Rocket, LLC from any liability related to the use of this content as outlined above. For me, one of the first things I tell new homeowners after closing is, don't relax just yet. There are key steps that set you up for long-term stability. Your first mortgage payment is usually due about one month after closing, and I always recommend setting up auto-pay to avoid missed payments and consider biweekly payments to reduce interest over time. When creating a new-home budget, include mortgage, utilities, maintenance, property taxes, and HOA fees if applicable. It's crucial to plan ahead so you're not caught off guard during tax season or when repair costs arise. In my opinion, saving at least 1-3% of your home's value each year for unexpected repairs or upgrades gives you peace of mind. Keep all closing documents, deeds, insurance policies, and warranties organized and in a safe place, you'll need them for taxes or future refinancing. Always verify that your deed has been properly recorded with your county recorder's office to ensure legal ownership is on file. Lastly, update your address with USPS, DMV, banks, and insurance providers as soon as possible, and double-check your homeowners insurance for adequate coverage. Don't overlook safety, make sure your smoke detectors, CO2 alarms, and security systems are installed and working properly. These small steps make a huge difference in protecting your investment and starting strong as a homeowner. — Jack Ma, Founder, Jack Ma Real Estate Group

Having been involved in assisting hundreds of homeowners go through the sales and purchase process in Southern California, I have realized how the actual work comes in and takes shape immediately following closing. First mortgage payments are generally due one month after finalizing the transaction and thus making an early development of automatic payments assits in eliminating late payments as well as credit problems. I would also encourage them to make their payments on a biweekly basis- this is a slight change but can help you reduce the loan time and also save a lot of interest in the long run. It is important to budget wisely after you move in. On top of the mortgage, you must consider utilities, property taxes, insurance and then a minimum of 1% of the value of your home every year to maintain it. I have seen new homeowners get stunned by expenses like plumbing, roofing or replacement of appliances. Maintaining an emergency fund that has three-six months of bills would bring peace of mind to a person when the unforeseen occurs. Store your paperwork and safety as assets. Stow your deed, closing documents and insurance binders somewhere safe and ensure that your deed is duly registered by the county. Check your homeowners insurance is wholly covered and ensure that smoke and CO2 sensors are operational. Purchasing a home is not the end of the road, but it is the beginning of securing what you now own

Closing after closing, prepare an a home transition day file. It must contain documents of your deed, insurance binder, utility account numbers, Wi Fi, and contacts of emergency. Safeguards Store a print version in an encrypted cloud storage and a copy in a fireproof box. I have observed how homeowners have lost hours of time trying to find such basics during their initial call to emergency or insurance claim. You can put your first mortgage payment on auto pay but make an extra payment reminder on phone a few days to payment date not to pay but to check your statement. That little ceremony creates the consciousness of the escrow modifications and avoids the unlimited mistakes. Allowance to a settling fund of 1 per cent. of the value of your house. It includes adaptations such as locks, seals, lighting, and other simple safety equipment which manifest themselves upon move-in. Lastly, snap shots of large systems, plumbing, electrical panels, appliances having serial numbers. It fast tracks future claims of warranty and maintains honesty in insurance. Such little routines fill the distinction between orderly owners and distressed owners.

When is your first mortgage payment due, and how do you make this payment? What other options should be looked into to make future mortgage payments easier, like automatic payments or payments every two weeks? Your first mortgage payment is usually due one full month after closing. This gives new homeowners a little time to get used to their new financial situation. Most lenders let you pay online through a digital portal, which makes autopay the easiest and most reliable way to do it. Setting up biweekly payments can also help a loan last for fewer years and make it easier to pay off each month. In my experience, automation lowers late fees and makes credit more stable. This can be especially helpful for new investors who have to manage multiple income streams. What should you include in your budget for your new home, such as mortgage payments, utilities, maintenance, property taxes, and other costs? Why is it important to plan ahead and make a budget, especially when it comes to taxes? There are costs that come up again and again when you own a home, and they are often hidden. You should plan for more than just your mortgage. You should also plan for utilities, insurance premiums, HOA fees, property taxes, and ongoing maintenance, especially things that don't show up on a monthly bill, like cleaning the gutters or inspecting the roof. Smart budgeting helps make sure you have enough cash on hand when tax season comes around. Keeping good records can help you get property tax deductions, mortgage interest, and depreciation. I have seen owners underestimate maintenance costs by 20-30%, and then they have to pay for all of their seasonal costs at once. What is the range of money you should set aside in an emergency fund, and why is it important to save for upgrades to your home that you didn't expect or want? One of the most common problems with owning real estate is that things come up that cost money. As a general rule, set aside 1-3% of your home's value each year for repairs and improvements. A broken pipe or HVAC system doesn't wait for a good time, and being financially ready protects the long-term value of your investment. I tell new vacation rental owners a lot that doing maintenance ahead of time isn't an expense; it's marketing. A well-kept property gets more repeat guests and higher nightly rates.

When is your first mortgage payment due, and how do you make this payment? What other ways should you think about to make future mortgage payments easier, like automatic payments or payments every two weeks? Most of the time, the first mortgage payment is due one full month after closing. This gives homeowners a little time to get used to their new financial situation. Most payments are made through an online portal set up by the lender. However, setting up automatic payments or biweekly transfers can make the process almost invisible and lower the amount of interest you pay over time. People who rent out part of their home, like through Airbnb or RedAwning's network, can also set up automatic payments so that some of the money they make from renting goes directly to these bills. This little bit of automation turns what seems like a debt into a system that is easy to use. When making a budget for your new home, what should you think about? This includes things like mortgage payments, utilities, maintenance, property taxes, and more. Why is it important to plan ahead and budget wisely, especially when it comes time to file taxes? A home is an emotional and financial investment, which is why the budget after closing needs to be more than a spreadsheet; it needs to be a plan. In addition to your mortgage, you should also think about the costs of utilities, HOA fees, insurance, maintenance, and the costs of furnishing, landscaping, or fixing things that people often forget about. Many first-time STR owners don't realize how much these "soft" costs will add up, which means they put off doing their taxes or even updating their property. When you budget correctly, you can take advantage of tax breaks like mortgage interest deductions and depreciation on investment properties. These can have a big effect on your financial outlook for the year. Why is it important to set aside money for home improvements that you didn't expect or want? How much should you keep in an emergency fund? Every house has a story, and that story often has surprises. Setting aside 1-3% of your home's value annually for maintenance or upgrades helps you manage the unexpected—leaks, HVAC failures, or even desired cosmetic changes that keep your property competitive. For owners who plan to rent, unexpected issues can mean lost bookings, so a healthy reserve fund isn't just financial—it's reputational.

2) Your first mortgage payment is typically due at the beginning of the second month after closing (If you close in June, your first payment is likely due August 1st). Keep an eye out for instructions from your lender to pay your monthly mortgage and enroll in autopay so you never miss a payment. 3) Your mortgage is just one piece of your new home budget. Plan for utilities, property taxes, homeowners insurance, HOA dues, and maintenance. Setting aside 1-2% of your home's value each year for upkeep helps prevent surprises. 4) A solid emergency fund of 3-6 months of living expenses is smart, but it's also wise to have a separate home repair fund. Saving 1-3% of your home's value each year prepares you for unexpected repairs. 5)Keep a digital or physical "Home File" with key documents including your deed and title, closing disclosure, insurance policy, warranties, and inspection reports. Having everything organized saves time and stress when refinancing, selling, or filing a claim. 6) After closing, you'll receive a copy of your deed in the mail. Make sure to check it for accuracy and verify it's filed under your name on the county recorder's website. 7)Updating your address protects your identity and keeps finances secure. Notify USPS, banks, credit cards, the DMV, employers, insurance companies, and voter registration to prevent important mail from going missing. 9) Review your homeowners insurance after closing to ensure it reflects your home's replacement cost, not just the purchase price. Consider flood or earthquake coverage if you're in a higher-risk area. Revisit your policy every few years as home values and rebuilding costs rise. 10)Test your smoke and carbon monoxide detectors regularly and replace batteries as needed. Keep one on each floor and near every bedroom. Adding a security or smart home system can lower insurance costs and increase peace of mind.