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Consumer Financial
Protection Bureau
Your mortgage closing checklist
Learn more at consumernance.gov/buying-a-house.
CFPB’s Buying a House tool
www.consumernance.gov/buying-a-house
Closing is the nal and likely
most important stage of your
homebuying journey. This checklist
will help you prepare and learn
what to expect so you can close
with condence.
Be a savvy homebuyer
§ Prepare in advance. Your closing is when you
legally commit to your mortgage loan. Know
what to plan for so everything goes smoothly.
§ Don’t rush. Make sure you’re getting what you
expected.
§ When in doubt, ask! Ask questions until you feel
comfortable with every detail.
§ Beware of mortgage closing scams. Protect your
life savings by knowing what to look for and how
to avoid it happening to you.
§ Trust your gut. If something feels wrong, speak
up and know that walking away may be better
than signing a bad deal.
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Consumer Financial
Protection Bureau
Learn more at consumernance.gov/buying-a-house.
Who will be conducting my closing? What is their title?
What do I need to bring to my closing?
If I decide to walk away at closing, will I still owe the seller money?
Name:
¨ Title agent
¨ Closing attorney
1. Determine who will
conduct your closing,
where it will be, and
when.
Although the type of
company conducting your
closing can vary based on
where you live, you can
shop for the company of
your choice.
3. Request your closing
documents three days
in advance of closing.
By law, you must receive your
Closing Disclosure three
business days before closing.
¨ Escrow agent
¨ Other
Phone:
These are some of the most important documents you’ll see at closing:
MORTGAGE CLOSING CHECKLIST
Before closing
Taking a few key actions can make your home closing go more
smoothly. Use this worksheet to prepare in advance.
¨ Cashier’s check
$
¨ Wire transfer
When is my closing? Where is my closing?
Date: Time:
Address:
2. Ask the person who
will conduct your
closing what to expect.
The closing process can
vary by region and area.
Learn the details of your
closing in advance.
¨ Closing Disclosure
¨ Promissory Note
¨ Mortgage / Security Instrument / Deed of Trust
¨ Deed, document that transfers property ownership (purchase only)
¨ Right to Cancel (renance only)
¨ Review the list on page 4 and make any necessary changes.
About how much will I need to pay at closing? How do I pay?
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Consumer Financial
Protection Bureau
Learn more at consumernance.gov/buying-a-house.
Search for answers to these questions, and if you can’t nd the
answers, ask your loan ofcer:
Are the loan type, interest rate, monthly payment, and other key
terms the same as I expected?
Are there any fees that I don’t understand or that have changed
signicantly?
Do I have an escrow account? Do I understand how that works?
¨ I have my cashier’s check or wire transfer ready.
Set aside enough time to carefully review the documents for errors
and to make sure you have a clear understanding of the loan terms.
4. Protect yourself from
a mortgage closing
scam.
Closing funds are tempting
targets for scammers. Beware
of emails with last-minute
changes to your payment
or wire instructions. It may
be a scam.
5. Schedule time in
advance of your
closing to review
documents.
6. Compare your Closing
Disclosure to your most
recent Loan Estimate.
Look at the table on the
top of page three of your
Closing Disclosure. By law,
only certain costs can change.
7. Read the rest of your
closing documents.
Use our document summaries
to learn more about why
your closing documents are
important.
8. Arrange your payment
for the amount due at
closing.
Date: Time:
Is my personal information correct on all of the documents?
What happens if I don’t pay my loan?
Do the key numbers (loan amount, monthly payment, interest rate)
match exactly across all of my documents?
How can I exercise my Right to Cancel (renance only)?
If you’re unable to get the rest of your closing documents in
advance, take the list of questions above with you to closing.
If you receive an email with last-minute changes to the wire
instructions or to verify your personal information, it may
be a scam. Contact the trusted parties you identied on Step 4
to conrm the payment details, using only the primary phone
numbers that you saved.
Record the names and phone numbers for two trusted individuals
(i.e. real estate or settlement agents) who can securely conrm
payment instructions in case of a scam attempt.
¨ I have this person’s number saved.
¨ I have this person’s number saved.
Name:
Phone:
Name:
Phone:
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Consumer Financial
Protection Bureau
Learn more at consumernance.gov/buying-a-house.
¨ A cashier’s check or proof of wire transfer for the exact amount
of money you need to close.
¨ The list of people to call that you prepared earlier.
¨ Your Closing Disclosure. You’ll want to compare it to the nal
documents one more time.
¨ A trusted friend, advisor, or lawyer, if you want an advocate
at the table.
¨ Your co-borrower or the person who is co-signing your loan.
¨ Your check book, in case there are any last minute changes.
¨ Your driver’s license or ID.
1. Bring these things or
people with you to
closing.
2. Get answers to these
questions at your
closing.
3. Don’t forget these
closing tips.
How will I pay my property taxes and homeowner’s insurance?
§ Take all the time you need. You have a right to read and understand
your closing documents, no matter how long it takes.
§ Trust your gut. Don’t go forward until you feel comfortable.
MORTGAGE CLOSING CHECKLIST
At closing
Your closing day has nally arrived! Bring this worksheet to your
closing and use it as a guide.
Phone:
¨ Included in my monthly payment.
¨ I have to pay them on my own.
Where will I send my monthly payments?
If I have Homeowners’ Association dues, how do I pay?
Who should I call if I have questions after closing?
Name:
5 of 6
Consumer Financial
Protection Bureau
Learn more at consumernance.gov/buying-a-house.
Double check that your packet includes these important documents:
¨ Closing Disclosure
¨ Promissory Note
¨ Mortgage / Security Instrument / Deed of Trust
¨ Deed, document that transfers property ownership (purchase only)
¨ Right to Cancel (renance only)
1. Save your closing
packet.
You should save the entire set
of documents, exactly as you
received it.
2. Change your address.
3. Revise your budget
and plan for future
expenses.
4. Review your
homeowner’s
insurance.
Contact your insurance
company with questions
or changes.
¨ Bank accounts, investment accounts, and credit card companies
¨ Department of Motor Vehicles and car insurance
¨ Cell phone company, health/life insurance, and other bills
¨ US Postal Service
Does it cover oods? Earthquakes? Other disasters?
Could you get a discount for having smoke alarms or if you get
your car insurance with the same company?
Could you save money by increasing your deductible?
§ Include Homeowners’ Association (HOA) fees, and if you don’t have
an escrow account, property taxes and homeowner’s insurance.
§ Settle in to your new budget for a few months before making major
unplanned or non-essential home repairs or renovations.
§ Set aside money each month in an emergency fund to cover
essential repairs or loss of income.
MORTGAGE CLOSING CHECKLIST
After closing
Congratulations! Now that the paperwork is over, set yourself up for
success as a homeowner with these nal steps.
6 of 6
Consumer Financial
Protection Bureau
Learn more at consumernance.gov/buying-a-house.
Changes in your monthly payment. Even if you have a xed-
rate loan, your total monthly payment can change if your taxes,
mortgage insurance, or homeowner’s insurance go up or down.
Servicing changes. The “servicer” is where you send your mortgage
payments, and your servicer might change. If your servicer
changes, you’ll get a change-of-servicer notice in advance.
Offers for new credit cards or home equity lines of credit. If you
want to opt-out of the offers, you can do so online or by calling
(888) 567-8688.
Offers from home improvement contractors. Not only should you
wait before making major investments, but scams are common.
Research a contractor’s reputation and always get three quotes
before choosing a contractor.
Offers for “mortgage protection (life) insurance,” often sent in
ofcial-looking envelopes. Most homeowners are better off with
standard life insurance, which is more exible and usually cheaper.
Bi-weekly payment plans offered for a fee. A bi-weekly payment
plan can be smart for people who get paid bi-weekly—you’ll pay off
your loan quicker and save money—but you don’t have to pay for this
service. You can often set it up yourself.
Renance offers that don’t save you money. Don’t renance too
often or fees can really add up. When considering a renance,
make sure you’re saving money with a lower interest rate.
If you’re struggling to make your payments, talk to your mortgage
servicer and call a housing counselor. Your mortgage servicer is
required to explain what options are available to avoid foreclosure.
HUD-approved counselors are trained professionals who will help you
at little or no charge.
Have questions or need a denition? Get answers from Ask CFPB.
Have a complaint? Submit a complaint through the CFPB.
The CFPB is here
to help you.
5. Pay attention to:
6. Watch out for:
Marketers often target new
homeowners. Give yourself
a chance to adjust to your
new budget before applying
for new credit or making
large purchases.
7. Act fast to avoid
foreclosure if you are
struggling to make
your payments.
