Closing Documents

If you have ever purchased a home before, you know that there are a lot of papers to sign at closing.  Here is a list of key documents:

  • HUD-1 settlement statement:  Detailed list of all costs related to the sale of your home, similar to the good faith estimate provided by the lender.  You have the right to review the HUD-1 before closing to ensure everything is correct, clear up any mistakes, and compare to your good faith estimate.
  • Final TILA statement:  First version is given after applying for you mortgage (which must be done within 7 days of a ratified contract).  Final version outlines the cost of your loan and APR, taking into account any modifications made between application and closing.
  • Mortgage note:  A promise to repay the mortgage, outlining the loan amount, terms of the loan, and what happens if payments are not made.
  • Mortgage or Deed of Trust:  Secures the mortgage note mentioned above and gives lender claim against the home if mortgage note terms are not met.
  • Certificate of Occupancy:  Necessary for new construction in order to take possession of your new home!

Once all the documents are signed, the house keys are yours!!

Hampton Roads Real-e-statement is written by Alyssa Godwin, a Realtor with Liz Moore and Associates. For questions regarding buying or selling contact Alyssa at 757-329-6161 or You can also find Alyssa on Facebook or on the web at