What Happens on Closing Day • Money: The closing costs of a home refinance usually include appraisal fees, insurance and taxes, escrow and title fees, and any fees to the lender; this will be covered on the final Closing Disclosure. • Signing: Here come the pens! You will be asked to sign documents saying you agree to the terms of the loan and sign a note and security instrument. Then you will sign a number of affidavits and declarations that legally bind you to the agreed upon financial obligations and your rights as a homeowner. • Distributing: This is where all previous loans or debts are paid directly from the Title Company. • Recording: After all these things take place, the deed and security instrument are properly recorded so you can receive your new monthly payments. Your new escrow account (if you’re using one) will also be set up to pay your property taxes and homeowner’s insurance will be set up. Once all the lines are signed, you’re good to go! Even after you close, your Home Loan Specialist will continue to reach out to you to make sure your mortgage is working for you.
. . . t i a W But e’s More!!! Ther
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