Closing Day Congratulations - you’ve made it to closing day! You’ve found the perfect home and your offer was accepted. Now it’s time to sign the paperwork!
Before Closing Day It typically takes 30-45 days to close on your home from the date your offer is accepted. During this time, your home inspection, appraisal, and underwriting (the process of writing the loan) will take place. Before your closing day, your lender will send you a closing disclosure. This will outline the total amount that is due on closing day and the terms of the loan – make sure to review this carefully to verify that everything is correct.
On Closing Day Closing day is the last step in your home buying process. It’s the day when you sign your loan paperwork, pay for the home, and get the keys to your new home! On closing day, you can expect to spend about 1 hour or more signing your loan paperwork. On closing day, you’ll transfer the funds for your down payment and pay closing costs, which are fees and expenses charged by lenders and third parties. Most of the time, the homebuyer pays for the closing costs. Sellers may pay a portion of the closing costs depending on the loan type and negotiations with your realtor.
HOME BUYER’S GUIDE
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