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Key Closing Documents
• Closing Disclosure (or HUD-1 and TIL in some cases) – a summary of loan terms, monthly
payments and closing costs.
• Promissory Note –it’s the promise that you’ll repay the loan. It shows the loan amount and
terms of the loan and the lender’s recourse if you fail to make payments.
• Deed of Trust – secures the note above and gives the lender a claim against the home if you fail
to live up to the terms.
• Certificate of Occupancy – if the house is newly constructed, this is the legal document you’ll
need to move in.
When everything is signed, your participation in the closing is done. The very last closing items happen
in the background; the title company will complete the recording and funding.
Hopefully, you feel a little more educated about each step and feel more comfortable about what to
expect during the process.