Complete Guide to the Mortgage Closing Process

Before Closing Day

Final Steps Before Closing

• Review Closing Disclosure (received at least 3 days before)
• Schedule final walkthrough
• Prepare certified funds for closing costs
• Gather required identification documents
• Review all closing documents in advance

The Closing Disclosure

• Compare to Loan Estimate for changes
• Verify loan terms and payments
• Review itemized closing costs
• Check for errors or discrepancies

Required Documents

What to Bring to Closing

• Government-issued photo ID
• Proof of insurance
• Certified or cashier's check
• Documentation of any repairs
• Purchase agreement

Documents You'll Sign

• Promissory Note
• Deed of Trust/Mortgage
• Closing Disclosure
• Deed
• Affidavits and Declarations

Understanding Closing Costs

Lender Fees

• Origination charges
• Points (if applicable)
• Application fees
• Underwriting fees

Third-Party Fees

• Title insurance and search
• Attorney fees
• Recording fees
• Survey fees

Prepaid Items

• Property taxes
• Homeowners insurance
• Mortgage insurance
• Interest until first payment

The Closing Day Process

What to Expect

• Document review and signing
• Fund transfers
• Key transfer
• Recording of documents

Who Attends Closing

• Buyers and sellers
• Real estate agents
• Closing agent or attorney
• Title company representative
• Lender representative (sometimes)

Common Closing Issues

• Walk-through problems
• Missing documents
• Funding delays
• Title issues
• Insurance problems

After Closing

• Store documents safely
• Change locks
• Set up utilities
• Update address
• Review first payment details
• File homestead exemption

Tips for a Smooth Closing

• Review documents early
• Ask questions about unclear items
• Verify funds needed in advance
• Schedule ample time for signing
• Maintain communication with all parties
• Follow up on required repairs