Closing, also called settlement, is a meeting where the final documents are signed, the closing costs are paid, and ownership of the home is officially transferred to you.
Get prepared for closing
Secure your closing funds. Your lender will outline your closing costs in your loan estimate. Closing costs vary, but you can expect to pay 2%-5% of the loan amount. Learn more about closing costs.
Request a final walk-through. You should request to do a formal walk-through of the home 24 hours before closing. During the walk-through, be sure to check that all required repairs have been made, the home is in the agreed upon condition, and that the seller has completely vacated the property.
Read closing documents. You typically don’t have time to read all documents thoroughly at closing. Ask your attorney or closing agent for the closing documents ahead of time so that you have ample opportunity to review them at your own pace.
Three days before your closing date, you'll receive your closing disclosure, which lays out the final details of your home loan and the closing costs you have agreed to. Review this document carefully. If you note any large variations from the costs your lender provided in your loan estimate, reach out to your lender for clarification.
Remember, your team gets paid to help you every step of the way and these are your finances — don’t be afraid to ask questions.
Estimate your total closing expenses for purchasing a home with our closing costs calculator.
What to expect on closing day
Closings usually take place at a title company with your real estate agent, a closing agent, any co-borrower(s) and the seller's real estate agent.