What happens at closing?

The closing process can take several hours, during which time you’ll sign a number of important documents. While each closing day differs based on situation, you can expect the following:

Closings usually take place at a title company. For a refinance, it’ll be you and any co-borrowers and a closing agent in attendance.

You’ll need to bring a state-issued photo ID and a cashier’s check or wire transfer to pay for outstanding items or closing costs that aren’t rolled into the loan.

You’ll be asked to review and sign several documents, including affidavits and declarations. Be sure to read all documents carefully and understand their purpose as they are legally binding.

When everything is signed and completed, you’ll leave the office with a new loan, including a new rate and term.