Guide to Closing on a Home

You've reached final approval and clear to close, what to expect next.

You've made it to final approval with clear to close and now it is time to finalize everything at a closing appointment. In this final lesson of the guide to a Home Purchase, you will learn more about the closing process.

With your closing appointment near, this guide will help you prepare for the appointment including what to expect during the appointment. 

What's the entire purchase process look like?

You are currently on the tutorial that teaches you what it is like after you've completed a majority of the loan process including reaching final approval and now on the final step, closing the loan. If you'd like to learn more about the entire process, please visit my home purchase process guide.


Understanding Your Documents

Be sure to request a copy of your final Closing Disclosure (CD). This document which will be signed at the title office amongst many other documents includes the details of your loan including:

  • Loan program.
  • Loan term (years).
  • Interest rate.
  • Mortgage payment.
  • Closing costs (loan, appraisal, title and government fees).
  • Prepaids including interest in advance.
  • Funds needed to close the loan.
  • ... and much more.

Carefully review your CD and compare it to your Loan Estimate at the beginning of the loan. If you find discrepancies or errors, let your Loan Officer know immediately so these items can be reviewed.

If your acknowledged CD was an initial CD that has been revised, be sure to request and review your final CD to make sure everything is as agreed.

If you have any questions regarding your CD and I am your Loan Officer, give me a call and I'll happily answer any questions or concerns.

Cash to Close

Earlier in the loan process, you reached Final Approval which included a final review of your documentation including bank statements which shows available funds.

If you have an amount showing on your CD as cash to close, you will be expected to provide those funds before or immediately after signing your closing documents.

Most title companies will want any amount over $1,000 to be wired directly from your bank. Some title companies will allow a personal check or bank-certified cashier's check for amounts under $1,000. If you'd like to know your options, call your title / escrow officer and ask, they will be happy to answer any questions.

You may send multiple transfers from multiple accounts to title as long as the total amount equals (or exceeds) the amount showing on your CD. Any excess funds will be given back to you from title after your transaction is complete.

Prevent Wire Fraud

Please be sure to verify the wiring instructions you've received to avoid man-in-the-middle attacks. Simply call your title / escrow officer and verify the instructions you have received are accurate before taking the instructions to your bank. Depending on the timing, you may be able to receive your instructions at the time of doc signing and head to the bank after your appointment.

The term "Cash to Close" does not mean cash. This term refers to the funds you will need to finalize your real estate purchase. 

What You Need to Bring to Closing 

All borrowers on the loan will need to sign the loan documents. Please be sure all borrowers on your loan bring their driver's license, government-issued identification card or a US passport.

Funds to close may be sent prior to your appointment via wire but when doing this, be sure to call your escrow officer directly to verify the wiring instructions you have are correct. If this is not done, title will provide you a copy of their wiring instructions at your closing appointment which can be completed after signing all of your documentation.

If title has allowed you to pay with a bank-certified check, please bring this check to closing.

What to Expect at Closing

If I am your Loan Officer, I will make every attempt to attend your closing so I can answer any questions or concerns during the signing process. Many of my real estate partners also make every attempt to attend your closing to celebrate the occasion.

There is going to be a large stack of paperwork that you will need to sign and date. The stack looks intimidating, however, there's many multi-page packets where you will sign only the last page.

Your escrow officer will go over each document with you to help you comprehend what you are signing. You are encouraged to read and comprehend each document before signing.

After you've completed all of the documentation, your title / escrow officer will likely ask how you'd like to receive a copy of your signed documentation. You may request a physical copy and/or a digital copy delivered electronically.

Settlement / Home Possession

Contrary to popular belief, completion of your loan documentation doesn't grant you possession of your home with keys.

After your documents are signed with receipt of funds required to close, the title office will then begin the post-closing process of finalizing your home purchase. Some of the process includes:

  • Scanning and verifying all signed documents.
  • Send the full packet of documentation to the lender.
  • Await the lender to verify documentation.
  • Receive and answer to "Prior to Funding" conditions from the lender.
  • Receive authorization and officially request funding from the lender.
  • The deed and mortgage are submitted to the Register of Deeds office.
  • Receive acknowledgement that the deed has been recorded.
  • Announce to all parties that the property is recorded.
  • Distribute funds to the seller including clearing / paying off liens (if any).

Once your property is recorded, you may now take possession of the property including transfer of all keys, alarm codes, door panel codes, garage door openers and other methods to access the property.

Congratulations!

You've reached the end of this Complete Beginner's Guide to a Home Purchase. This guide is constantly evolving and improving. If there are any unanswered questions or concerns, please feel free to reach out to me and ask!

If you've been following along on a real home purchase, congratulations on your new home! It's such an exciting time and I hope you enjoy the whole experience of being a homeowner!

Ready to Get Started?

As you can see, there's quite a lot that goes into home purchase lending. Having a Loan Officer with years of knowledge and experience is crucial to your overall experience.


Please take a look at my reviews available on my Learn More About Scott Buehler page which also links to my review sources to verify authenticity.


I have multiple downloads, printouts and resources available on my mortgage resources page.


I'm available to talk to discuss your specific borrower needs. Send a text to 435.590.1019 and I'll give you a call.


I look forward to helping you through the home purchase process!


Get started today by filling out this 60-second questionnaire!

About Scott Buehler

Scott Buehler Your Mortgage Consultant

Welcome to an exceptional home buying experience with Scott Buehler, a Senior Mortgage Consultant, by your side. I'm a proud father of three, a homeowner, hiker, biker, writer and love being around water (my zen place).

My goal is to be your Loan Officer for life. I'm here to help you finance your first home and every loan after. It is my hope this website and all guides establish me as your go-to professional for you, your family, friends, neighbors and everyone in-between.

Disclaimer

The content on this page provides general consumer information. It is not legal advice or regulatory guidance. Scott Buehler updates this information periodically. This information may include links or references to third-party resources or content. Scott Buehler or Veritas Funding does not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that may also serve your needs. Veritas Funding does not offer real estate services. Contact a licensed Real Estate Agent for real estate information. Veritas Funding does not provide credit repair services. Veritas Funding does not offer tax services. Contact your tax preparer for advice on your personal or business taxes.

Home Purchase Guide - Course Navigation

Personal Hands-On Help with Scott Buehler

Every client is unique which requires special care, understanding, compassion and know-how. You will have specific questions that are based around your specific circumstances that aren't answered here.

As your mortgage consultant, I want you to understand that you can come to me directly with anything about home loans. There are no "dumb questions" about one of the largest financial transactions of your life! Please ask.

Accommodations Include: Email, texting, in-office meetings and phone calls. After-hour and weekend accommodations available by appointment.

Below, you will find a form to ask a direct question by email. Please verify your email is correct so you'll receive my reply. You may also send a text to 435.590.1019 to ask questions or to check availability for a phone call.

>