What is the loan closing process like?

Asked 5 months ago
The loan closing process is an important step in the home financing journey, and it encompasses several key stages that lead to the finalization of the mortgage agreement. At the center of this process is the closing, which is often referred to as settlement. During this meeting, the borrower, lender, and other relevant parties come together to complete the legal transfer of property and sign the necessary documentation. Initially, the borrower should receive a Closing Disclosure document three days before the closing date. This document provides detailed information about the terms of the loan, closing costs, and any outstanding financial obligations. It is essential for the borrower to review this document carefully to ensure that all information is accurate and aligns with previous discussions. On the day of closing, the parties involved will meet, typically at the office of a title company or the lender. The borrower will need to bring necessary identification and any required documentation such as proof of homeowners insurance. During the meeting, the closing agent will explain the various documents that are to be signed, including the mortgage note and the mortgage deed. The borrower will also finalize any financial arrangements, which may include paying closing costs or providing funding for escrow accounts. Upon the completion of the signing process, the title company will record the necessary documents with the local government, marking the official transfer of ownership. Following this, the borrower receives the keys to their new home, and the loan is officially in effect. For anyone looking to better understand this process or seek further specifics, it would be beneficial to look at the information available on the official Planet Home Lending website.
Christian Allen is the editor / author responsible for this content.
Answered Jul 17, 2025

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