BUY YOUR FIRST HOME IN 8 STEPS: STEP 8

A Guide for First-Time Homebuyers

When it comes to buying a home, there’s a lot to think about, a lot of factors to consider, and a lot to plan– all of which can sometimes feel really overwhelming. 

Purchasing a home can be a stressful, emotional and exhausting process. Having a good Realtor along the way will ease the stress of it all, making the process fun and exciting. 

Congratulations! Your home has been appraised! You are so close to closing on your new home! 

What Happens Now?

As we move forward towards the closing date make sure you have all documents that your lender needs from you. I will be finalizing all the little details and making sure all required documents are signed and sent to the appropriate parties.

What to Expect?

Meanwhile, we wait to hear “clear to close” from your lender's underwriters. Once they give the “Clear to Close”, you will receive 2 documents from your Mortgage Company to review.

Closing Statement/Settlement Sheet

Summarizes the details of your loan. The Settlement Statement provides full disclosure of all the fees and charges that a borrower must pay for the loan. 

Closing Disclosure

A document that provides final terms and details of your mortgage. It is a 5-page document that includes your loan terms, estimated monthly payments, closing costs and other fees associated with your mortgage.

Once signed, a 3-day mandatory waiting period begins. The Closing Disclosure is a very important document, so be sure to read it carefully.

The Final Steps

Signing Day!

The title company will call you to schedule an appointment to sign all the documents making you an official homeowner! 

Recording

Once the documents are signed, the title company will send them to the county for recording, (stating you are now the official owner).

When the documents have been officially recorded, your Realtor will then coordinate a time with you to give you the keys to your new home!

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