Step 5: Closing on Your New Home
CLOSING ESCROW
In the final days and weeks of the escrow period, your mortgage lender will be working hard to satisfy any remaining loan conditions. Upon satisfaction, loan documents will be delivered to escrow and escrow will make arrangements for you to sign your final loan documents.
This is a good time to bring any remaining funds / down payment due into escrow because once the loan documents are returned to the lender, they are ready to close your loan. The loan will be funded, and escrow will schedule recording of title. Once recorded (usually within 24 hours of funding), you officially OWN the home!
CONGRADULATIONS ON YOUR HOME PURCHASE!
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