What documents will I need to sign at closing?

When you close on your mortgage in Pennsylvania, you will be required to sign a number of documents. These documents include the mortgage note, loan application, and deed of trust. The mortgage note is an agreement detailing the terms of your loan, including the agreed-upon amount of the loan, the interest rate and repayment schedule. The loan application contains your personal information, financial information, and documents verifying your employment and income. The deed of trust is a document that provides the lender with a security interest in the property. You will also be required to sign the settlement statement, which provides a snapshot of all of the expenses associated with the loan. This includes the cost of the loan, taxes, insurance, and fees. The settlement statement includes the total amount of the loan, and the amounts due at closing. Finally, you will be required to sign the federal Truth in Lending statement. This document outlines the cost of the loan, the total amount of borrowing, and the APR or Annual Percentage Rate. The APR is the total cost of the loan and includes the interest rate, points, and other fees, expressed as a percentage. By signing these documents, you agree to the terms and conditions of the loan and are legally bound to repay the loan in full plus interest. Make sure to read all documents thoroughly before signing, and have an attorney review them as well to ensure that you fully understand the loan agreement.

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What documents will I need to sign at closing?

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