The Closing 
Action First Mortgage will give you a copy of the Settlement Statement one day before closing for your review. The settlement statement contains the exact amount due at closing. A cashier's or certified check is required. You will take this check into a final or closing meeting at which you will sign a stack of important documents. Be sure to carefully read each document before signing. You will also present proof of insurance and inspection. Included in the paperwork that you will sign are:

• HUD-1 Settlement Sheet - This is the itemized list of closing costs your lender gave you the day before closing. After the closing agent completes it you and the seller both sign it.
  
   
• Truth-in-Lending Statement - Given to with your application or you soon after you apply for your loan, it outlines the cost of the loan, gives you the APR (annual percentage rate) and defines the loan terms and number of payments.
  
   
• The Mortgage Note - The mortgage (or promissory) note is legal evidence of your promise to repay the loan according to the agreed terms which this document outlines.
  
   
• The Mortgage - This is the legal document that gives the lender a claim against your house if you fail to uphold the terms of the mortgage note. Although you have possession of the house the lender shares ownership until you pay off the loan, and can demand full payment or foreclosure if you default. Some states use a deed of trust instead that conveys title to a trustee until the loan is repaid.
  
   
• Affidavits - These are documents required either by the lender or the law. Your lender can explain any affidavits you're asked to sign.
  
   
• The Deed of Trust - This document transfers ownership to your name and is signed by the seller at closing. You'll get a copy at closing and the original will be sent to you after it's recorded.
  
   
• Once all of the documents are signed, you will present your check for closing costs and down payment. The lender will present a check for the remainder of your home purchase and the closing agent will record the mortgage and the deed in your name, file it with the respective government agency, and disburse the funds. Congratulations you are finished!