Roadmap to Home Ownership
So, you’ve made it to closing!
1. Review your closing disclosure as soon as you get it from your lender (a Closing Disclosure is the form that provides final details about your mortgage loan. It includes the loan terms, your projected monthly payments, and how much you will pay in fees and other costs to get your mortgage and purchase your home (closing costs).
This way you have an understanding of the terms of the loan prior to settlement and the cash needed to close.
2. Acknowledge closing disclosure immediately upon receipt.There are federally mandated deadlines that can affect your closing date.
3. Remember to bring:
- Any remaining funds required to close via cashier’s check or wire
- Your checkbook just in case there are any last minute adjustments to “cash to close”
- Valid government-issued ID (newlyweds may need to bring a marriage certificate if a name is changed)
4. While signing loan documents do not hesitate to re-read them to make sure the paperwork aligns with your expectations of the loan. Your lender may be there to guide you through
5. Your Realtor will be there to represent you in the event any last-minute surprises crop up during the walkthrough. They will likely have paperwork for you to sign finalizing your relationship with them as well.
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