Closing takes place at the Title Company's office. We send all your paperwork there so it's ready when you arrive. The closing company will call you in advance to let you know how much money you'll need to bring for the closing costs. Remember to bring a certified check for that amount. The title company can't accept personal checks.

At the closing you'll sign various documents, including:

• HUD-1 Settlement Statement
• Note
• Mortgage
  
  

The HUD-1 shows all the financial details of the transaction, including the purchase price, the loan amount, the closing costs, and the total amount to be paid in by the buyer. The closing costs are itemized and the title company's closer will go through each of the costs. Check them against your closing costs estimate sheet to make sure they are accurate.

The Note is the legal document that creates the obligation to the buyer to repay the loan to the lender. It will show the loan amount, the interest rate and the amount of the monthly payments.

The Mortgage is the document that gives the lender an interest in the house as security, or collateral, for the loan.

After all the documents are signed you are ready to start construction of your new house!