3 Things You Should Expect At Your Mortgage Closing
When you buy a house, the last step needed before you take possession of the house is the mortgage closing. If you have never gone through this process before, you probably do not know what to expect at this appointment. If you are wondering what you should expect, here are the top three things you will do while you are at your mortgage closing.
You will hand over certain things
The first thing to expect is that you will be asked for certain things. First, they will ask you for your driver's license, and they may also need to see your Social Security card. These items are used to verify your identity. Secondly, you will be asked for a cashier's check, and they will let you know ahead of time how much this should be for. You must make it out to the title company that is handling your closing.
You will sign a whole bunch of documents
The second thing to expect while you are there is to sign a lot of different papers. To buy a house, you will sign dozens of different documents, and each of these documents is important. Some of the documents are used to verify that you understand what you are doing, while others are designed to verify your obligations with your mortgage lender. There are also documents related to the title of the house and any inspections that were completed. You will sign so many papers at this visit that your hand might become sore. This is normal, and you should expect this when buying a house.
You will receive certain things
Finally, you will receive certain things while you are there at your closing. The first thing you should expect to receive is a copy of all the documents you sign that day. After you are finished signing them, a title worker will photocopy all of the documents, and you will receive a copy of everything. You will need these documents for your taxes and to apply for property tax credits, and there might also be other reasons you need them.
The second thing you should expect to receive is the keys to your new house. When you close, you become the owner of the house, and you will then be able to start moving in.
Going to your mortgage closing will be a very exciting event for you, and it will be the last thing you must do before you become a homeowner. To learn more about closing on a house, talk to a home realtor.
