The loan closing is the last step in the mortgage
loan process, and where all the final loan documents are signed. Mortgage loans can be
closed by title companies, escrow companies, real estate agents, or attorneys, it’s going
to depend on the state that you reside in. It’s important that borrowers and sellers
are available on the same day for loan closing, but typically they close at different times.
The closing agent will ask that you provide proper documentation of your ID, so it’s important
to remember to bring this. It’s also important to remember to contact your closing agent
ahead of time. They’ll ask for the down payment or any other funds that they require in the
form of an official check that will need to be made out a certain way. It’s important
that the closing date not be changed and that you adhere to the closing date as much as
possible, there is much riding on this date. The financial figures that are determined
are specific to the day of closing. If you prolong the closing even one day, the financial
figures will have to be reworked. It’s also important to remember that carpet cleaners,
movers, the seller’s availability, all of this is at stake and is important.