Closing

Home Loan Closing

Closing the Home Loan

You have finally made it to the last step on the home loan process and are one step away from being a homeowner. You will receive a Closing Disclosure that is a five-page document that must be signed before the closing. This document is similar to your loan estimate but includes additional information about the escrow component of the loan. You will have to sign this document at least 3 days before the closing. The next and final step is going to the closing.

The Closing Department will create the documents needed to close your loan and send them to the title company. The closing completes the process of obtaining a mortgage. Your Mortgage Consultant and Realtor will tell you what to bring with you, and the Title Officer will explain each document you’re signing.

Checklist:

Sign the Closing Disclosure before the closing and down payment.
Bring your photo id and cashier’s check for closing costs.

Tip:

Personal checks or cash are not an acceptable form of payment for closing costs. Only a wire transfer or a cashier’s check will be accepted.
Signing the Closing Disclosure in a timely manner is important because it can delay your closing date if it isn’t signed within a certain time frame.