What to expect at closing?

Closing day is the day you sign the final paperwork on your loan. Expect to set aside 1.5 to 2 hours for the closing meeting. Buyers usually attend the closing meeting in person, but sellers can sometimes sign the paperwork ahead of time and don’t need to be in attendance.

During the closing meeting, you’ll sign documents and make your down payment; then, your lender will wire the balance of the sale price. Here’s how to prepare for your closing meeting:

What you’ll sign at closing:

• The promissory note, which commits you to repay the loan.
• The mortgage (may also be called the Deed of Trust or security instrument).
• The escrow disclosure detailing the fees incorporated into your monthly payments for taxes and insurance.
• A right-to-cancel form, allowing you three business days to back out of the deal.
• Other disclosures, disclaimers, and government-mandated documents.

What to bring to closing:

• Your government-issued ID, such as a driver’s license or passport,
• A cashier’s check for the amount of your down payment,
• Proof of homeowners’ insurance, and
• The purchase and sale contract.