Tag: Closing On A Home

Loan Estimate: &nbsp;The loan estimate will include the terms of the loan, the interest rate and detailed closing costs. You will be expected to verify that all the information in the document is correct.
Closing Disclosure: &nbsp;This will outline the details of your mortgage, and you will be able to see the document before the closing, so any changes can be made if necessary.
Escrow Statement: &nbsp;The statement will detail the payments that will be made from the escrow account during the first year of the mortgage from your lender. It will include taxes and insurance.&nbsp;
Mortgage Note: &nbsp;This is your promise to repair the mortgage and what steps the lender can take if you fail to make payment.&nbsp;
Deed: &nbsp;The deed to the property will provide the lender's claim against your home if you fail to pay.&nbsp;

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