In this seven-part series on buying a home, we have covered some of the most common steps in buying a home. We are closing this series out with the last step.
Step Seven: Closing On Your New Home
The lender that you chose to work with will give you a closing disclosure. This is typically a five-page description of what needs to be paid at close, as well as the loan details.
Once you review your closing disclosure, you will need to attend your closing meeting. You will need your ID, a copy of the disclosure, and proof of funds to close.
There will be a settlement statement that you need to sign. There will be all costs associated with the purchase of the home on this statement. This is when you'll make the down payment.
Finally, you will sign the mortgage or deed of trust to secure the note. Thanks for tuning in to this series. Good luck with buying your next home.