Documents You Should Expect at Your Home Closing
Get your signing hand ready – here’s a list of all the documents you can expect to receive when you close on your new home.
- Mortgage / Promissory Note
- This document outlines the terms of your mortgage and serves as your written promise to repay the loan. It includes repayment details, amounts due, and penalties if payments stop.
- Deed of Trust
- This document gives the lender a legal claim on your property if you stop repaying your mortgage.
- Payment Letter or Escrow Disclosure
- Provides detailed information about your monthly mortgage payment, including how much goes toward principal, interest, taxes, insurance, and other components.
- Loan Estimate
- The Loan Estimate is provided within three business days of your accepted offer and includes the estimated interest rate, monthly payment details, and total closing costs.
- Closing Disclosure
- Provided at least three business days before closing, this document outlines the final terms of your mortgage, including loan terms, interest rate, projected payments, and all fees and costs.
- Private Mortgage Insurance (PMI) Disclosure
- Required if your down payment is less than 20%. This document explains how PMI works, when payments are required, when they can be removed, and your rights and responsibilities.
- Deed or Title
- Includes the legal description of the property and transfers ownership from the seller to the buyer.
- Affidavits
- Legal statements confirming details such as your identity, employment status, signature validity, and intent to occupy the home as your primary residence.
- Servicing Disclosure
- Identifies the company that will service your loan and acknowledges that servicing may be transferred in the future.
- Declaration of Reports
- Confirms the buyer has reviewed inspection and survey reports related to the property.
- Certificate / Statement of Occupancy
- For new construction homes, confirms the property is complete and safe to live in.
- Flood Hazard Statement
- Indicates whether the home is located in a flood hazard zone and whether flood insurance is required.
Quick tip: Compare the Loan Estimate and Closing Disclosure before closing. If you have questions ask your lender for clarification.
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