Closing

- Closing is the eighth and final step in the mortgage process, where ownership of the property officially transfers to you and your loan is finalized.

- This stage typically takes place at a title company, escrow office, or attorney’s office, depending on your state.

- During closing, you’ll review and sign a stack of important legal documents, including the mortgage agreement, promissory note, and various disclosures, all of which outline your rights, obligations, and loan details.

- You’ll also pay your closing costs, which may include lender fees, title fees, property taxes, homeowner’s insurance, and any prepaid interest.

- Once all documents are signed and funds are distributed, the deed is recorded in your name, making you the official owner of the property.

- Closing can feel overwhelming due to the amount of paperwork, but it is also an exciting milestone—the moment your home purchase becomes complete.

- With the keys in hand, you can finally move in and start enjoying your new home.