Please update your browser.What to expect on closing day
Closing on your home
Start onlineOverview of the closing process
The end-to-end closing process can take a few weeks, but it all comes together on closing day — the day when the home becomes yours! Here are a few tips to get you there.
Know before you close
As you get ready to close on your new home, these last few steps will ensure that everything is squared away so you can close with confidence.
Before closing, schedule a final walk-through
About a week before closing, you'll have a final walk-through of your new home. This will help you see exactly what you’re purchasing and its current state. During your walk-through, check the furnace, air conditioner, major appliances and toilets to make sure they are working. If you requested any repairs, check that they were made. Likewise, if you negotiated to keep something in the house, such as specific light fixtures or appliances, be sure that they're there.
Review the closing disclosure
Three business days before closing you'll receive a closing disclosure. This document itemizes all of the funds and costs paid by the buyer and seller either at or before closing. This document will show the loan amount, interest rate, loan term, origination fees, title insurance, deposits for property insurance, and taxes and other fees. Review the closing disclosure carefully and compare it to the Loan Estimate you received to make sure there are no surprises.
Your Home Lending Advisor can help with questions about the closing disclosure.
What to expect on closing day
As a buyer, you'll review and sign legal documents outlining the terms of the sale. You'll then pay your down payment and closing costs (usually with a cashier's check or wire transfer) and provide proof of homeowner's insurance. The seller will review and sign documents related to the sale and property transfer. Here are some of the documents you'll see on closing day.
Final closing disclosure
This is the final version of the document you received 3 business days before closing. Check for any last-minute changes.
Deed of trust or mortgage
The deed of trust or mortgage is a document that grants the lender a lien on the property.
Promissory note
The promissory note is your binding legal agreement to make payments to the lender according to the terms of your mortgage.
Getting the keys
Once the paperwork is signed and the closing costs are paid, all the documents will be filed, officially putting the house in your name. After that, the keys are yours. Congratulations, you’re a homeowner!
