The Closing: Closing Costs, What to Bring to Closing

CLOSING COSTS: Your mortgage lender should give you an estimate of your Closing Costs at loan application.  You will know the exact amount of funds you will need just before closing and they must be paid by a certified check.  These costs will cover:

  • Down payment (shown on the purchase agreement)
  • Interest due on present mortgage (if any) from the date of closing until the end of the month
  • Two to eight months taxes to be put into the banks escrow account depending on which month you close
  • Two months insurance to be put into the banks escrow account
  • All closing costs involved with the mortgage company

WHAT TO BRING TO CLOSING:  You will receive a letter from the closing company about two weeks prior to closing telling you the time, date and location of closing and also what to bring to closing.  In most cases, this letter will request the following:

  • A certified check for closing costs and down payment (make the check payable to yourself and you will then endorse it to the title company at closing.)
  • Insurance binder and paid receipt (if applicable)
  • Photo ID (s)
  • Social Security Numbers(s)
  • Addresses for the past 10 years (please have this available in advance of closing)

FINALLY…CLOSING ON YOUR NEW HOME:  The Closing usually takes about one hour.  The buyer and seller and their agents, plus a title company representative for both sides will be present.  At the closing,  you will be given keys and garage door  openers as well as copies of all closing paperwork and instructions on how to homestead your property.