As the buyer, be prepared to review and sign a large variety of documents related to your loan, and to pay the closing costs. Some of the typical closing costs include (unless you have a Realtor negotiate for the seller to pay for your closing costs):

• Inspection fees
• Pest Inspection fees
• Underwriting fee
• Tax service fee
• Prepayment of taxes
• Attorney’s fees
• Origination fee
• Title insurance
• Appraisal fee
• Credit report fee
• Recording fees
• Interim Interest
• Private Mortgage Insurance payment

As the buyer, you will receive quite a few documents that you’ll need to review and sign at closing. They are as follows:

• HUD-1 Statement – This settlement sheet itemizes the services and lists the charges for both the buyer and the seller. You will likely receive this form in advance so that you can have a good idea of what your closing costs will be.
• Truth-in-Lending Statement – Your lender will have likely given you this document a few days before closing, as it outlines the costs of your loan. It is likely that the APR calculated by the lender will change slightly at closing.
• The Promissory Note – This is a legal document that basically outlines the buyers promise to the pay the lender according to the agreed-upon terms. It will also detail the repercussions should you not pay on the loan as promised.
• The Mortgage – Your mortgage is the legal document that basically gives the lender claim against the property if you default on the loan.
• Seller’s Affidavits – Seller’s affidavits can be numerous and can vary.
• The Deed – The seller will sign the deed. You, the buyer, should receive a copy of the deed at closing.