Your closing day marks the final step in your homebuying journey, where you’ll finally receive the keys to your new home! However, it can also be a day filled with paperwork and last-minute details that can feel overwhelming. Here are some essential tips to help you prepare for your closing day and make the process as seamless as possible!
Review Your Closing Disclosure
A few days before your closing date, you’ll receive a Closing Disclosure form from your lender. This document provides details of the final terms of your loan. This includes the loan amount, interest rate, your monthly payments and the closing costs. Take your time reviewing this document carefully. If you have any questions or notice any inconsistencies, contact your Loan Team right away.
Gather Necessary Documents
Gather all the required documents for your closing day to ensure a streamlined closing process. These required documents typically include:
- A valid government-issued photo ID
- Proof of homeowner’s insurance
- A copy of the purchase agreement
- The Closing Disclosure
- Any additional documentation your lender or title company may have requested.
Arrange Your Funds
You’ll need to bring the necessary funds to cover your closing costs and any other remaining costs detailed in your Closing Disclosure. Your title company will confirm how they prefer to receive the payment beforehand. Just remember to always confirm your wiring instructions by phone or in-person with a trusted professional. Please note, you will never be asked to confirm wiring information via email.
Plan Your Day Accordingly
Depending on how much paperwork needs to be signed, it’s possible your closing will take several hours. Arrange your schedule so you have ample time to focus on the process without feeling rushed. And lastly, don’t forget to celebrate! Once you receive your keys, take a moment to celebrate this significant milestone.
