So, you took all the appropriate steps leading up to the closing on your new mortgage loan and completed the closing process on a new mortgage/home. What happens next? Let’s start with closing day:
What Happens at Closing?
On closing day, the ownership of the property is transferred to you, the buyer. This day consists of transferring funds from escrow, providing mortgage and title fees, and updating the deed of the house to your name.
On Closing Day:
1. Sign final loan documents in front of a notary
2. Wire your funds needed to close to escrow
3. Collect the keys to your new home
4. Celebrate! You just closed on your new home!
After Closing Day:
– Manage all of the closing documents in a secure online portal
– Keep an eye out for instructions on how to make your first mortgage payment
– Change your mailing address
– Put the utilities in your name
– Set up your account or auto payments with your HOA (if applicable)
– Know when your property taxes are due
– Know when your homeowners insurance is due
If you have any further questions regarding your next steps following closing day, please give us a call at (760) 930-0569 and one of our loan officers will assist you.