The Closing Process


Preparing for closing
Understanding closing costs
Setting a closing date
At your closing
After your closing

Homebuyer's Dictionary (glossary)

At your closing

Either during or shortly after your closing, you should receive several original copies: The deed which transfers ownership from the seller to you; HUD-1 Settlement Statement, itemizing funds which will be paid by the seller and the buyer at closing; and a promissory note, sometimes referred to simply as Note, with the detailed terms of the loan and your promise to repay it, including the address and agreed-upon dates for making your payments.

Keep a copy of everything you sign, including homeowner's insurance policy and title insurance records, in a safe place.  When it comes time to file your taxes, you'll need the settlement form, which lists loan discount points and real estate taxes you paid at closing.  Some of these may be tax-deductible.

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