If you are closing on a refinance, your loan will not fund at closing. You will have a 3 day right to rescind period and your loan will fund on the 4th business day.

Make sure you bring your id to closing as they will verify, also if you are required to bring money to closing, have it in the form of certified funds.

It overseen by by either an attorney or notary public and they will notorize the necessary documents and make sure the closing package gets back to lender promptly.

Closing is short for the closing of escrow. A real estate transaction and/or finance transaction is not complete until all parties to the transaction have completed their duties. A title company or attorney usually oversees a transaction to make sure everyone performs their duties according to law and signed contracts. The final steps in a transaction usually take place at what is called a closing. This can take place in a Title office, Attorney's office or a mutually agreed upon place.

Be sure to allot ample time for settlement, as it can take up to 3 or 4 hours. All parties whose signatures are required on closing documents need to be present, unless a power of attorney is executed prior to the settlement.

Even if a spouse is not obligated to the loan they are sometimes required to be at closing and sign certain documents such as the 3 day right of rescission.

The final piece of the process in purchasing and/or refinancing property. The closing will include the transfer of deed, obtaining signatures on the notes and the distribution of funds. This procedure is commonly called the settlement.

At closing or usually before you will have a HUD1 which is the settlement statement. The HUD1 is drawn up by the closer in the title company or closing attorney's office based on closing instructions by the lender. This allows you and your mortgage professional to review to make sure all of the fees are correct.