It seems like you’ve waited so long to get to the closing table, and now that your closing date is right around the corner, you need to know exactly what to expect. Your “Client Name” Realtor® is going to be with you every step of the way, but it’s nice to have a heads-up before you sign the dotted line.
What Happens When You’re Closing Your Home Loan?
You and your lender will confirm all the terms of your agreement. Your loan will be official and you’ll get your mortgage; everything you and the seller agreed to becomes a set-in-stone agreement. Finally, the seller transfers ownership of the home to you.
You’ll end up signing many legal documents, and you’ll hand over your check for the down payment and closing costs, as well.
What You Need to Prepare to Close Your Home Loan
You’ll have to bring your homeowner’s insurance policy documents, as well as any other insurance documents that your lender requires. You’ll also have to bring proof of payment for the insurance policies.
In addition to the paperwork, you’ll need to bring a certified check. You’re entitled to receive a copy of the HUD-1 Settlement Statement at least 24 hours prior to the loan’s closing, so you should ensure that it’s correct (or fix any errors) before you show up at your closing.