Buying a new house is exciting, and the closing process can be intimidating. That’s why we’ve made a list of a few considerations, and documents, you’ll need on hand to make the process go off without a hitch!
The very first thing you’ll want to do, after your home loan has been approved, is check in with your loan officer for a list of documents you’ll need to gather. Your loan officer will probably provide you with a checklist, but just to make sure you’re dotting those i's and crossing those t's, check in with any questions you might have to make sure y’all are on the same page.
At the closing, in addition to signing documents, you will primarily pay closing costs and escrow. You will probably be asked to pay with a cashier’s check, as personal checks are hardly used in these circumstances. In some instances, a wire transfer of funds is allowed. Also, you’ll need to show at least one form of government-issued identification, sometimes two. Be sure to ask beforehand in case you need to locate that passport!
Most documents will be provided by the lawyer and realtor present, and many closing costs will come directly out of your escrow account. Be sure to ask your loan officer, just so you’re clear, what fees you may be responsible for outside of what is covered by your escrow funds.
The process of becoming a homeowner is exciting and rewarding, and with a little bit of attention and preparation it should be easy as pie!