Closing Process Explained

What to Expect When Finalizing Your Home Loan

The closing process—also known as settlement—is the final and most critical step in securing your mortgage and becoming a homeowner. At Ask Mortgage Authority, we ensure you know exactly what’s happening, every step of the way.

🏁

What Is the Closing Process?

Closing is the legal process of transferring ownership of a home from the seller to the buyer. During this stage, all financial and legal documents are finalized, funds are distributed, and keys are handed over.

📋

Steps in the Closing Process

1. Final Loan Approval

Your lender performs a final review of your documents, income, and credit. This is called “clear to close.” You’ll receive a Closing Disclosure at least three business days before closing, detailing your loan terms and closing costs.

2. Schedule a Final Walkthrough

Typically 24–48 hours before closing, you’ll do a final walkthrough of the home to ensure agreed-upon repairs were made and the property is in expected condition.

3. Attend the Closing Appointment

At closing, you’ll sign all necessary documents including:

Promissory Note
Deed of Trust / Mortgage
Closing Disclosure
Property Deed

4. Pay Closing Costs

You’ll bring a cashier’s check or wire the funds covering your down payment, lender fees, escrow deposits, and title charges. These typically range from 2–5% of the loan amount.

5. Receive Your Keys

Once the paperwork is complete and funds are distributed, the title is recorded in your name and the home is officially yours.

💡

Tips to Prepare for a Smooth Closing

✅ Review your Closing Disclosure carefully
✅ Avoid big purchases or credit changes before closing
✅ Have your ID and cashier’s check ready
✅ Ask questions if anything is unclear

🔐

Why the Closing Process Matters

A transparent, smooth closing protects your investment and gives you confidence in your new home. At Ask Mortgage Authority, we advocate on your behalf—from application to keys in hand.

📞

Need Help Navigating Your Closing?

Let our mortgage professionals guide you through every detail.

Contact Us Today to speak with a loan expert.