770-316-5519

BillWagnerHomes@gmail.com

770-316-5519

BillWagnerHomes@gmail.com

Home / Buying / Closing Your Loan

by | Sep 8, 2021 | Real Estate Market, Mortgage Lenders | 0 comments

Closing your loan

The final step of the homebuying process involves signatures, documents and keys. Let us help you prepare and understand what to expect

Closing Your Loan

Closing your loan

Homeownership is right around the corner, but first, it’s time to lock down all the details and close the deal.

Closing, also called settlement, is a meeting where the final documents are signed, the closing costs are paid, and ownership of the home is officially transferred to you.

The average time to close a purchase loan is 43 days. Freddie Mac

Get prepared

Three days before your closing date, you’ll receive your Closing Statement, HUD 1 Statement or Settlement Statement (It’s called different things in different states). This document lays out the final details of the loan and closing costs you have agreed to. Review it carefully. If you note any large variations from the costs your lender provided in your Preliminary Closing Statement and should match your mortgage company’s loan estimate, reach out for clarification. Remember, your team gets paid to help you every step of the way and these are your finances – don’t be afraid to ask questions!

You should request a formal walk through of the home 24 hours before closing. Be sure to check that all required repairs have been made, the home is in the agreed upon condition and that the seller has completely vacated the property.

What to expect

Closing day can be intimidating with a lot of paperwork to sign, and the process can take a couple of hours. While every closing differs based on unique situations, the following generally holds true for all:

You’ll need to bring a state-issued photo ID. All documentation related to your purchase, including proof of homeowners insurance, home warranty information and a closing paperwork will be provided by the closing attorney’s office.

The closing attorney will ask you to bring a cashier’s check or wire transfer to pay for outstanding escrow items or closing costs that aren’t rolled into the loan. Most times the attorney will already have this information or let you know exactly what you need top provide at the closing table.


The closing attorney will review and fully explain these documents before and while you are signing a handful of documents at closing. Be sure to carefully read and fully understand these documents, as they are legally binding and spell out your financial obligations and rights as a homeowner. In Georgia the closing attorney works for the mortgage company and explains documentation to both the buyer and the seller so they fully understand what is being signed.

Once everything is signed and completed, you’ll receive the keys to your new home!

Click Here For A Closing Cost Calculator

Click Here for An Extra Payment Calculator.

If you want to get started in the process contact The Wagner Team, we can answer any of your questions. We will be happy to. “A Higher Standard of Real Estate”

Mortgage Pre-Approval

What You Can Afford

Downpayments and PMI

Finding Your Team

Finding The Right Home

Working With Your Lender

Your Credit Score

Inspections and Appraisals

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The Wagner Team

Bill Wagner – Keller Williams Atlanta Partners

Call or Text 770-316-5519

BillWagnerHomes@gmail.com