What should I do before, during, and after the mortgage closing process?

Closing is the final and likely most important stage of your homebuying journey. Download our closing checklist to help you prepare and learn what to expect so you can close with confidence.

Before the closing

Make sure you receive your closing documents in advance (either electronic or paper copies) so that you can review them. Your lender is required to send you your Closing Disclosure at least three business days before closing, and you can request the rest of your closing documents in advance. It’s especially important for you to review the Closing Disclosure, the promissory note, mortgage, initial escrow disclosure, and the notice of right to cancel for refinances.

Carefully review all documents that you receive to make sure that the terms of your mortgage have not changed without your knowledge. For example, compare the closing cost items listed on your Loan Estimate to those on the Closing Disclosure.

Make sure your closing costs have not increased by more than what is allowed. Ask your lender or settlement agent about any fees you do not understand. You should also review the Closing Disclosure to ensure that the payments are what you expected. Your promissory note further describes your legal obligations.

Inspect the home and make sure it is acceptable and any agreed upon repairs have been completed. Make any arrangements to transition from your current home to your new home. This includes signing up for essential services like gas, electric, or water connections. You don’t have to do this at closing, but may want to contact the providers a few days prior to closing.

Note: You will not receive a Loan Estimate or Closing Disclosure if you are shopping for:

• A reverse mortgage
• A home equity line of credit (HELOC)
• A manufactured housing or mobile home loan not secured by real estate
• A subordinate loan through certain types of homebuyer assistance programs

For these kinds of loans, you should receive Truth-in-Lending disclosures. If you are shopping for a reverse mortgage, you will also receive a Good Faith Estimate (GFE) and a HUD-1 Settlement Statement.

During the closing

Review the documents for accuracy and ask any questions you have. Learn more about what to expect during the closing.

After the closing

You’ve agreed to make your mortgage payments on time each month. Understand when your first payments are due and whether you’ll be paying them online or with a check.

Make sure to file a change of address with:

• Your bank
• Credit card companies
• Investment or retirement account companies
• Student loan servicers
• Car loan servicers
• Department of Motor Vehicles for car registration
• Health insurance company
• Car insurance company
• Cell phone company
• Newspaper and magazine providers
• Any other services that may need to send you bills or statements

Get accustomed to your new budget and consider setting aside money for home repairs. If you’re not paying your property taxes and homeowner’s insurance monthly through an escrow arrangement, start setting aside money to pay these bills when they arrive. Understand that your property taxes may increase over time.

How to get help

If you have a problem with your mortgage closing process, you should discuss the problem with your lender. You can also submit a complaint to the CFPB online or by calling (855) 411-CFPB (2372). We’ll forward your complaint to the company and work to get you a response, generally in 15 days. You may also wish to get your own attorney to take a look at your issue.