When is it appropriate for a borrower to request changes to their loan?

It is appropriate for a borrower to request changes to their loan anytime before closing because this period allows for adjustments to be made to ensure that the loan terms are acceptable to both the borrower and the lender. During the pre-closing phase, there is typically still flexibility regarding various loan aspects such as the interest rate, loan amount, or stipulated contingencies.

Making changes before closing is imperative as it provides the opportunity to align the final loan agreement with the borrower's financial situation and goals. This can include adjusting loan terms to better fit the borrower's budget or addressing any new information that has arisen since the initial application.

In contrast, requesting changes after the loan has been funded is problematic as the loan has already been legally executed and any alterations would not be feasible. Additionally, once a loan is in default, the focus shifts to remedying the default rather than altering loan terms. Lastly, requesting changes before the loan application is submitted wouldn't make sense, as there would be no application in process to modify.