Mortgage Closing Process: How Long it Takes to Close and More!

You’ve found your dream home; you’ve applied and been approved for a mortgage and are now ready to close and officially move into your house. So, what exactly is the closing process for a mortgage? How long does it take to close a mortgage? When you close on your mortgage, it is the last step in buying and financing a home. You and all other parties involved will sign the necessary documents during the closing. Once you sign, the house and the mortgage are now yours! Congratulations!

 

mortgage closing process, list of mortgage closing documents, closing process

 

There’s a lot that goes into the closing process, and we want you to be prepared and ready for anything that may come your way. Familiarize yourself with the documents you will be signing. Make sure you read them very carefully and understand all aspects of the loan. The seller, their real estate agent, you, your real estate agent, attorneys, an escrow agent and more may be required to be at the closing/settlement. The laws vary by state though, and you may not legally have to sit down all together to sign. Typically, the closing only takes a few hours.

List of Mortgage Closing Documents

While going over all of the documents, do not hesitate to ask your mortgage expert questions. At GuardHill, we want you to understand the entire mortgage financing process thoroughly! Here are some documents you may be signing when you’re ready to close on your mortgage:

  • The Closing Disclosure
  • A Promissory Note
  • A Mortgage
  • Federal and State government-mandated documents
  • Lender documents

Remember, this is one of the biggest steps in your life! Be an informed buyer. There’s nothing wrong with asking questions and reading over documents to prepare yourself. This will help make the process quick and smooth for all parties involved.

If you still have questions, feel free to contact us!