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How to prepare for closing

Review all of your closing documents with your attorney to be sure there are no errors or problems before the closing begins. These documents will include:

  • The Mortgage (.pdf), a separate document that you sign at closing, in which you pledge your home as security for the loan. In some states, buyer(s) sign a Deed of Trust rather than a mortgage, but both documents serve the same purpose.

  • The Mortgage Note (.pdf), your promise to repay your loan. It indicates the terms and conditions of your loan and how it will be repaid (the amount of your monthly mortgage payment for principal and interest, when it is due, the length of the mortgage, etc.).

  • The Settlement Statement (.pdf), created by the Federal Department of Housing and Urban Development (HUD) is used in most residential real estate closings in the United States.

 
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