What to Expect on Closing Day

Congratulations! You made it to the last step in the home buying process, the closing. After all the documents have been signed and the funds have been distributed, the ownership of property will be transferred and the property will finally be yours! Here are some things that you can expect during the closing process.

Before Closing

A few days before the date of the closing, you will receive your initial closing disclosure. This document shows closing costs, terms of the loan and how much money you will need to bring to the closing. Be sure to review this document carefully and make sure everything is correct. If you have any questions or something doesn’t look right, do not hesitate to reach out to your First Ohio Home Finance loan officer.   

Day of Closing

If you have sent money electronically to the title company, bring the proof of the money transfer. It’s also a good idea to bring your checkbook just in case there are any last minute changes to the closing disclosure. Be sure to bring a form of identification such as your driver’s license or passport.

A few different people may attend your closing. Your real estate agent and title company agent will be there to guide you through the closing to make sure everything runs smoothly and also answer any questions you have before signing. At First Ohio Home Finance, many of our loan officers make it a priority to also attend since we have been there with you every step of the way and we’re excited to watch you receive the keys to your new home!

You’re going to be signing a lot of documents on the day of closing so make sure you’re available for at least a few hours just to be certain. Be sure to pay attention before signing and reading through to make sure all information is correct. If there are any mistakes, let your title agent know so they can be corrected. A few important documents you will sign include the closing disclosure, deed, deed of trust, and note. The closing disclosure outlines your closing costs, loan terms, and cash to close. The deed is what transfers ownership from the seller to you. The deed of trust, also known as the mortgage, guarantees the property as security for repayment of the note. The note is an agreement to repay your mortgage and includes the total amount owed, interest rate, due dates and length of repayment.

At First Ohio Home Finance, our loan officers are here to help you from the first to last step of the home buying process! We want to help you achieve your homeownership dream. Contact a loan officer to get started today!