Mortgage Information from HUD
Mortgage Planning Help
Home Buyer's Guide Step 8
Close on Your Home
For first-time home buyers, the closing process may seem confusing. The mortgage closing or settlement is the final step in the home buying process. Closing is the completion of the real estate sale and loan transaction.
- Closing happens after your application for a mortgage loan has been approved and you have received a commitment letter.
What Happens When You Close on Your Home
At closing, you will sign the mortgage loan documents, the seller will execute the deed to the property, funds will be collected and disbursed and the closing agent will record the necessary instruments to give you legal ownership of the property. You will also get the keys to your new home!
The closing of a mortgage loan is a legal process, with many details and requirements.
Our Best Home Buying Guide Workbook includes all of the details and checklists to prepare you for a successful closing. Download it now!
Learn to plan for a successful home closing:
- Set the Time & Date for Closing. Scheduling can affect your need to move out of another home or apartment, saving you time and rent money. Allow enough time to prepare all documentation.
- Review Closing Costs. Work with your real estate agent to review and make sure you know what you will have to pay so you have the right form of payment on hand.
- Plan a Final Walk Through. Plan a final inspection of your home so you can be sure that you are getting what you planned to pay for. We’ve included the details that you need to look for in our Best Home Buying Guide Workbook—and you can download it for free.
READY TO LEARN MORE?
- Buying a home is easy with the right planning. Get all of the details in our Best Home Buying Guide Workbook. It’s FREE, and ready to download right now.
