The Loan Closing
The closing is the final phase of your refinancing process where you will meet with the closing agent to sign your loan documents—usually a title company, signing company, notary or attorney’ office or a closer may come to your house.
You should read every document at your loan closing. Make sure that you understand everything. If you have any questions, make sure that you ask them.
You have the option of choosing your own settlement attorney or using the one recommended by the lender. The closing attorney and lender will coordinate all the necessary paperwork. Request a copy of the settlement statement (also called the HUD 1) prior to closing so that you can review all the costs.
Unless you are getting a "no-cost" refinance loan, you will need to bring a cashier's check to settlement.
The loan is funded and the Deed of Trust or Mortgage is recorded in the public records of your county. At this point, other debts that you have included in the refinance are paid off.
After the closing, your refinance process will be complete.
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