Aurora CO Homes For Sale The First Time buyer process Pt. 5

Welcome to the closing process.

In this part of our series we will go over what is involved in the closing process.

You have already found the home; have the contract approved and your loan is approved.

The next step is to schedule the closing date. Usually this date was on the original contract, but it's best to confirm the date with everyone. The mortgage lender will send the final closing documents to the title company a few days before the closing. This will allow the title company to get everything in order. They will type up the final HUD 1 Settlement Statement. This form breaks down the money for your purchase. It will show a line by line itemized beak down of the costs involved. It will show the purchase price and finally, it will show the money that you will need to bring to the closing.

Once you have this figure, be sure to get a cashier's check from your bank. The money that is due at closing has to be in certified funds. That means you will not be able to write a personal check at the closing.

The actual closing will be handled by a third party. Usually a representative from the title company or an attorney, depending on your local laws. They will show you all of the details on the loan again, just to be sure that you understand what you are getting into.

Sign the forms - give the money - get the keys! A great thing with purchases is that as soon as you are done signing, you can move in.

After you have moved in, be sure that you get the paperwork that you need for the Tax credit if you are eligible. The $8,000 will be a nice help to get you settled in your new home.