Prepare For Closing Day on Your New Home

• Homeowner’s insurance is required by the lender prior to closing on the loan.
• Turn on utilities in your name, effective the closing date.
• Change your address with the U.S. Postal Service.
• Make moving arrangements.

Three days prior to closing:

• You should receive your final Closing Disclosure from the closing agency. The final Closing Disclosure shows a column for the seller and a column for the buyer. All closing charges and credits for both the seller and the buyer are documented in the closing statement.
• Review the closing statement for accuracy prior to coming to closing.
• The final amount in the buyer’s column shows you the amount of money you need to pay at closing.

The closing office will provide specific payment instructions. Closing funds have become recent targets for cybercriminals. If you are asked to use a wire transfer, call the office and ask to speak to someone you have been working with to double-check the instructions.

Closing day:

In South Carolina, the closing will usually take place at the attorney’s office. Everyone signing for the mortgage must be present to sign the closing paperwork. Make sure you bring the following:

• Cashier’s check or proof of payment for wire transfer.
• Driver’s license.
• Checkbook, just in case there are any additional items that were not on the closing statement.
• Be sure to understand this information:
  • How and when you will pay:
  • Your mortgage.
  • Your property taxes.
  • Your homeowner’s insurance.
  • Any HOA dues.
  • Who to call with any questions.

The best practice is to go through the homebuyer’s roadmap in this sequence. However, if you jumped ahead early in your journey, just circle back to address the steps you missed.

Arthur State Bank’s loan officers are closely tapped into local real estate markets and experts at helping clients get what they need on terms that work for them. We also offer mortgage specials for first-time homebuyers.

To start planning your journey to your dream home, try out our mortgage calculator. If you’re ready to talk to a loan officer, contact Arthur State Bank to request personalized mortgage information today. Don’t forget to ask about our first-time homebuyer offer.

This is the final step in the First Time Home Buyer’s Road Map.  Be sure to review the entire road map.