You’ve found your dream home and are approaching closing day. Whether this is your first, second, or third time buying a home, closing on a home is an exciting journey. You may be stressed as you approach closing day. This is the day you will sign the essential documents that transfer your home ownership to you. You will also pay closing costs, lending fees, and due taxes. With so much going on, it is expected that you may feel a little nervous.

But you can eliminate this stress by knowing exactly what to bring and what to expect on closing day to ensure the final steps of your home purchase go smoothly. Here is a quick home closing checklist:

Complete All Required Contingencies

When buying a home, contingencies refer to things that must be completed before the real estate transaction can be completed. This includes credit and financial background checks, earnest money payments, inspections, appraisals, transferring of the title, and title insurance. It is important to check with your real estate agent and lender to see what additional contingencies are unique to your situation that need to be completed.

Photo ID

The title company running your mortgage loan closing will need to verify your identity. Therefore, make sure you bring a photo ID, like a U.S. driver’s license, U.S. ID card, or a passport, to closing day so your title company can verify your identity and make copies if needed. However, it is crucial that everyone with a name on the mortgage loan, like a spouse or partner, also provides an approved photo ID. The title company is required to verify the identity of everyone listed on the mortgage.

Cashier’s Check

You will have to pay for closing costs, your down payment, prepaid interest, property taxes, and insurance during your closing. Instead of writing a personal check for these expenses, you will get a cashier’s check from the bank to cover your closing costs. Your lender or title insurer will provide you with the amount you have to cover before closing day, so you have time to secure a cashier’s check.

Review The Closing Disclosure

The closing disclosure lists the final terms and costs of your mortgage loan and includes an itemized list of costs associated with your purchase. This is issued by the lender three days before closing. This document can be overwhelming, but it is important to review it carefully and address any questions, errors, or inconsistencies prior to closing day.

Proof of Homeowner’s Insurance

Before your lender approves your mortgage loan, you are required to take out a homeowner’s insurance policy. Homeowner’s insurance protects you in case your home is damaged or destroyed. Your insurance company will provide you with a payout to help cover damages or rebuild. Your policy’s declarations page can be used as your proof of insurance. This lists your name, address, a description of the home you’re insuring, and your policy’s premium. However, double-check with your lender and title company to ensure you’re bringing the right forms to prove your insurance.

On Closing Day

Closing day is finally here! Remember to bring your folder or binder where you store your important documents. Double and triple-check that you have all the necessary documents for your home closing. If you’re closing with a real estate attorney, be ready to read and review lots of paperwork, they are likely to go through each document in detail. At this point, you are aware that your mortgage payment includes much more than just your loan and interest. While other fees like property taxes may be rolled into your mortgage payment, make sure you understand exactly how this works and when you can expect taxes and insurance payments to be made.

At last, the home is officially yours! Now it’s time to take a deep breath before you begin the next phase of moving into your new home. While major concerns were most likely addressed during the closing, you may find yourself thinking of questions in the following days or weeks. Don’t hesitate to contact Trustworthy Title with any questions involving the closing process, we’d love to help. We offer title and escrow services that you can trust to be efficient and honest.