{"id":2968,"date":"2019-11-26T16:06:56","date_gmt":"2019-11-26T23:06:56","guid":{"rendered":"https:\/\/homebuyinginstitute.com\/mortgage\/?p=2968"},"modified":"2025-03-24T08:17:18","modified_gmt":"2025-03-24T15:17:18","slug":"checklist-of-buyer-closing-documents","status":"publish","type":"post","link":"https:\/\/homebuyinginstitute.com\/mortgage\/checklist-of-buyer-closing-documents\/","title":{"rendered":"Checklist of Closing Documents for Buyers: Here’s What You’ll Sign to Close"},"content":{"rendered":"\n

On this page, you’ll find a checklist of mortgage closing documents that home buyers typically have to sign on the day they close. <\/p>\n\n\n\n

Just note the process can vary from one state to another, and also for different mortgage programs. So you might have more (or fewer) documents to sign on closing day than those listed below.<\/p>\n\n\n\n

Mortgage Paperwork, Rounds One and Two<\/h2>\n\n\n\n

In a typical transaction, a home buyer will provide a range of documentation all throughout the buying process. But it mostly happens at two key stages:<\/p>\n\n\n\n

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  1. Round one<\/strong> — Buyers who use mortgage loans to finance their purchases encounter a lot of paperwork on the front<\/em> end of the process, when they first apply for a loan and get pre-approved.<\/li>\n\n\n\n
  2. Round two<\/strong> — There’s also a lot of paperwork on the back<\/em> end of the process, on the day you actually close on the home. The rest of this guide will focus on these “round two” documents.<\/li>\n<\/ol>\n\n\n\n

    Definition:<\/strong> A real estate closing<\/em> is the final step in the home buying process. This is where the buyer signs all of the finalized mortgage documents and other paperwork, and when the funds are distributed to the appropriate parties. It finalizes or “closes” the deal, hence the term.<\/p>\n\n\n\n

    Checklist of Closing Documents for Buyers<\/h2>\n\n\n\n

    While the process can vary from one borrower to the next, some requirements apply across the board. Here’s a checklist of common documents that are needed for the mortgage closing process.<\/p>\n\n\n\n

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    1. The Mortgage Promissory Note<\/h3>\n\n\n\n

    This document is also referred to as the “mortgage note” for short, or just “the note.”<\/p>\n\n\n\n

    By signing the promissory note, you are agreeing to repay the mortgage loan as outlined within the document. The note will contain important details relating to your loan, such as the total amount you owe, the interest rate assigned, the length of the repayment period (e.g., 30 years), and other key details.<\/p>\n\n\n\n

    It also specifies where the payments are to be sent, and what happens in the event of default (where the borrower fails to repay the debt).<\/p>\n\n\n\n

    As a home buyer and borrower, it’s crucial that you read this mortgage document at closing and ask questions about anything you don’t understand. The promissory note obligates you to repay the debt in the manner specified. So you want to make sure you understand it prior to signing.<\/p>\n\n\n\n

    View a sample mortgage note (PDF)<\/a><\/p>\n\n\n\n

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    2. The Mortgage \/ Deed of Trust \/ Security Instrument<\/h3>\n\n\n\n

    The mortgage or deed of trust gives the lender a legal right to take the home back through foreclosure, should you fail to repay the debt going forward.<\/p>\n\n\n\n

    This closing document is also referred to as the “security instrument.” What you need to know is this: When you hear your lender talk about “the<\/em> mortgage,” they’re probably referring to the deed of trust in particular.<\/p>\n\n\n\n

    The deed of trust is a fairly lengthy form, and most of it is boilerplate. As a borrower, you should pay particular attention to the fill-in-the-blank portions of the deed of trust \/ security instrument. Those are the sections that will contain information specific to your<\/em> loan.<\/p>\n\n\n\n

    View a sample deed of trust (PDF)<\/a><\/p>\n\n\n\n

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    3. The deed (for property transfer).<\/h3>\n\n\n\n

    You’ll notice there are two closing documents on this list with “deed” in the title. But they’re actually two separate things, so bear with me here.<\/p>\n\n\n\n

    The deed of trust mentioned earlier (a.k.a., “the mortgage”) gives the lender the right to foreclose on the home if you don’t make your payments. The “deed” covered here is the document that transfers ownership<\/em> of the property from the seller to the buyer.<\/p>\n\n\n\n

    The terminology here is confusing. So let’s clarify again:<\/p>\n\n\n\n