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Closing Documents You Should Keep

  • Buyers Info
  • Calculators
  • Mortgage Info

On closing day, expect to sign a lot of documents and walk away with a big stack of papers. Here’s a list of the most important documents you should file away for future reference.

  • HUD-1 settlement statement. Itemizes all the costs — commissions, loan fees, points, and hazard insurance —associated with the closing. You’ll need it for income tax purposes if you paid points.
  • Truth in Lending statement. Summarizes the terms of your mortgage loan, including the annual percentage rate and recision period.
  • Mortgage and note. Spell out the legal terms of your mortgage obligation and the agreed-upon repayment terms.
  • Deed. Transfers ownership to you.
  • Affidavits. Binding statements by either party. For example, the sellers will often sign an affidavit stating that they haven’t incurred any liens.
  • Riders. Amendments to the sales contract that affect your rights. Example: The sellers won’t move out until two weeks after closing but will pay rent to the buyers during that period.
  • Insurance policies. Provide a record and proof of your coverage.

Sources: Credit Union National Association; Mortgage Bankers Association; Home-Buyer’s Guide (Real Estate Center at Texas A&M, 2000)

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Mark J Duevel
Coldwell Banker Realty
Wayzata Office
235 Lake Street East, Suite 100
Wayzata, MN 55391-1774

952.473.3000 (Office )
612.963.7128 (Mobile)
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Jeff L Martineau
Coldwell Banker Realty
Wayzata Office
235 Lake Street East, Suite 100
Wayzata, MN 55391-1774

952.473.3000 (Office )
952.210.2626 (Mobile)


Licensed In Minnesota
All information deemed reliable but not guaranteed and should be independently verified.

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