Step by step
Close Your Loan
After your loan is approved, you are ready to sign the final loan documents. You must review the documents prior to signing and make sure that the interest rate and loan terms are what you were promised. Also, verify that the name and address on the loan documents are accurate. The signing normally takes place in front of a notary public.
There are also several fees associated with obtaining a mortgage and transferring property ownership which you will be expected to pay at closing. Bring a cashiers check for the down payment and closing costs if required. Personal checks are normally not accepted. You also will need to show your homeowner’s insurance policy, and any other requirements such as flood insurance, plus proof of payment.
Your loan will normally close shortly after you have signed the loan documents. On owner occupied refinance loan transactions federal law requires that you have 3 days to review the documents before your loan transaction can close.
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Copyright © 2015-2022 Adam The Lender. Equal Housing Lender. Licensed by the California Bureau of Real Estate-Real Estate Broker. Xpert Home Lending, Inc. DRE: 02166758 NMLS: 2179191. Adam Altamirano Sales Manager DRE: 02053191 NMLS: 301592