The mortgage closing process typically spans 30-45 days, contingent upon potential delays. Common closing expenses include loan origination fees, appraisal fees, title insurance, homeowners insurance, and property taxes. Buyer and seller typically share these costs, although specific allocations may vary based on state regulations and lender policies.
Closing Day
On the designated closing date, you will convene at the closing table to execute the mortgage documents and officially assume ownership of your new abode. The lender will disburse funds to the seller and discharge any outstanding liens on the property. Essential items to bring to the closing include government-issued identification, proof of insurance, and a cashier’s check for closing expenses.
