Chapter 6: Closing on a home

The closing process

Closing on a home: what to expect during the final homebuying process step

This is it. The final step in the homebuying process. After months of searching, budgeting and plenty of planning and prep work, it’s time to deliver your down payment, sign the paperwork, and get the keys to your brand-new home.

What to bring

By now, your lender should have all the information they need, with the exception of a few documents. Here’s what to bring to the closing appointment.

  • U.S. government photo ID, driver’s license or passport
  • Proof of homeowners insurance
  • Set up a wire transfer for the down payment (or other approved method of payment)
  • All borrowers who may be listed on the contract, including co-borrowers or co-signers

Signing the papers

Plan to spend approximately an hour to an hour and a half to sign all the papers required at closing. There are a lot, but don’t worry: your closing agent will walk you through everything, and explain as you go. Before signing each page, remember to double-check:

  • All personal information, including social security numbers and dates of birth
  • Loan information, including final cost, down payment and interest rates
  • Home information, including address and square footage
  • Payment terms, due dates and late fees
  • Your understanding of what you’re signing and what contract terms you’re bound to

When you return home, be sure to place these documents in a safe place, because you may need to reference them again for any home warranty information or loan questions.

Getting the keys

Congratulations! You are now a new homeowner. Most of the time, you will receive the keys to your house immediately upon signing the final paperwork and transferring your closing funds. However, sometimes you may have to go pick up the keys, or they may be delivered to you within a day or two of signing, depending on the circumstances. Either way, once you have your keys, all that you have left to do is move in and enjoy your new home.

For a more detailed glimpse at what financing and closing on your new home with Meritage looks like, read our Guide to Financing your New Home Build.

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The foregoing information is provided solely for general information purposes and is not intended in any way as financial, securities, insurance, tax, or legal advice or services. Each potential homebuyer may have unique financial and other considerations that may be important to any home buying, financing or related decision. Accordingly, Meritage does not assume any duty or liability in providing the foregoing information and expressly disclaims all representations and warranties of any kind, either express or implied, with respect to such information. Potential homebuyers that desire additional information or guidance tailored to their specific situation should contact a relevant professional. Location information obtained from public sources and believed to be correct, but Meritage makes no representation or warranty with respect thereto.