You’ll be amazed at the quantity of paperwork at the closing — mostly agreements you must sign and bills you must pay.
Closing documents include:
The Truth-in-Lending
Statement, which shows the real cost of the
mortgage
loan, including the principal amount borrowed, the
interest you’ll owe on the principal, and the
annual percentage rate (APR), which incorporates
the interest rate plus the fees and points you owe
The
loan
note,
which spells out the terms of your
mortgage loan: what’s due, when it’s
due, and what happens if you default or pay late
The HUD-1 Settlement
Statement, which itemizes the amounts paid by the
seller and the buyer at the closing
