Review samples of documents you'll be expected to sign at closing
In the majority of closings, documents are delivered the day before or even the day-of closing. You will have to sign several pages. Some disclosures, others non-binding notices to the borrower, while others still are legally binding.
Here we provide you with sample versions of many of the documents you will see at the settlement table, all in PDF format. You should expect your closing appointment to take approximately one hour.
Legally binding documents
Here are samples of the Top 3 most important documents you will review and sign at the settlement table. Find a more detailed explanation of each toward the bottom of this page.
HUD-1 Settlement Statement
This is the document which provides an itemized listing of the funds that are payable at closing. Settlement charges (closing costs) are categorized on the HUD-1 into seven series sections as follows:
700 Series Line Items (Total Sales/Broker's Commission) detail the realtor's commissions paid by the parties to the transaction. This section is only used in purchase (not refinance) transactions, and in most jurisdictions it is the seller(s) who pay the real estate commissions.
800 Series Line Items (Items Payable In Connection With Loan) detail the charges of the mortgage lender and/or mortgage broker including such items as loan origination and loan discount points, appraisal and credit report charges, lender document preparation fees, lender underwriting fees, lender tax service fees, lender flood certification fees, lender application fees, lender commitment fees, lender overnight delivery fees, etc.
900 Series Line Items (Items Required By Lender To Be Paid In Advance) detail any required prepaid interest charged by the lender as well as any homeowner's/hazard insurance premiums, mortgage insurance premiums, flood insurance premiums, etc.
1000 Series Line Items (Reserves Deposited With Lender) detail the number of months and monthly amounts required by the lender for establishing an escrow account to pay for real estate taxes, homeowner's/hazard insurance, mortgage insurance, flood insurance, or any other assessments required to be held in escrow by the lender.
1100 Series Line Items (Title Charges) detail the fees and costs charged by the closing agent for coordinating closing with the parties, conducting the closing, and issuing title insurance. These items include such things as settlement or closing fee, abstract or title search, title examination fee, document preparation fee, notary fee, attorney fee, title insurance premiums, etc. This section generally represents the bulk of the actual closing costs charged to the borrower
1200 Series Line Items (Government Recording and Transfer Charges) detail the recording fees, state/county/city transfer and recordation taxes, and any other governmental tax assessed for the transfer or recording of instruments.
- 1300 Series Line Items (Additional Settlement Charges) detail other miscellaneous charges not falling into any of the above categories. These items may include such things as survey costs, pest inspection fees, messenger/courier fees, etc.
Deed of Trust
This is your mortgage. The Deed of Trust is a lengthy document (approximately 7 to 12 pages) requiring the signature of all owners of the property for the purpose of granting a security interest. After closing, the Deed of Trust is recorded with a legal description as a lien among the land records and as a matter of public record for the purpose of securing the borrower's promise to repay on the Deed of Trust Note/Promissory Note. In addition to identifying the property owners, the loan amount and the term of the loan, the Deed of Trust generally describes matters that would constitute a default on the loan thereby giving the lender cause to commence a foreclosure proceeding against the property.
The Note, sometimes referred to as either the Deed of Trust Note or Promissory Note, is the borrower's promise to repay the loan. The note identifies the amount of the loan, the rate of interest, the term of the loan (i.e., 30 year, 15 year, etc.), the payment due dates, the grace period and late charges, prepayment penalty provisions, and other general default provisions.
Types of notes
Lender documents that disclose various details about your loan and/or lender; non-binding.
- Affiliated Business Arrangement (if applicable)
- Borrower Certifications
- Compliance Agreement
- Escrow Reserve Account or Waiver Agreement
- Hazard Insurance Requirements
- Initial Escrow Account Disclosure Statement
- Servicing Disclosure
- Truth in Lending Disclosure