What First-Time Homebuyers Sign at Closing

Closing day is exciting, but many first-time buyers are surprised by the number of documents they must review and sign.

Understanding what to expect can help make the process less stressful.

The Closing Disclosure

One of the most important documents you'll review is the Closing Disclosure.

This document outlines:

• Loan amount

• Interest rate

• Monthly payment

• Closing costs

• Cash needed to close

Review this document carefully before closing day.

Loan Documents

Your lender will provide documents that explain the terms of your mortgage.

These documents include:

• Promissory note

• Security instrument

• Loan disclosures

Title Documents

The title company will provide documents related to ownership transfer.

These help establish your legal ownership of the property.

Tax and Escrow Documents

You'll review documents explaining:

• Property taxes

• Homeowners insurance

• Escrow accounts

Bring Questions

Closing is not a race.

Take your time and ask questions if something is unclear.

A good real estate professional and title company will help explain the process.

The Bottom Line

While there may be many documents to sign, each serves an important purpose in protecting both the buyer and lender.

Ready to buy your first home? Contact Marysol Calvillo for guidance from contract to closing.