Once the loan is approved, the file is transfer to the closing and funding department. The funding department notifies the broker and Title Company of the approval and verifies broker and title fees. The Title Company then schedules a time for the borrower to sign the loan documentation.

At the Title Company the borrower should:

     •     Bring a cashiers check for your down payment and closing costs if required. Personal checks are normally not accepted and if they are they will delay the closing until the check clears your bank.

     •     Review the final loan documents. Make sure that the interest rate and loan terms are what you agreed upon. Also, verify that the names and address on the loan documents are accurate.

     •     Sign the loan documents.

After the documents are signed, the Title Company returns the documents to the lender who examines them and, if everything is in order, arranges for the funding of the loan. Final disbursements are then made and loan is “closed”. The Title company records the transaction in the county records and sends you your deed.

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