Whether you are buying your first home or gearing up for a second purchase, you’ll be responsible for paying a variety of closing costs and other fees related to obtaining a mortgage. Generally, closing costs are paid when you sign on the dotted line for your mortgage, often at a final meeting called the “closing,” but it’s important not to overlook other costs associated with your loan.
Congratulations! You have entered the final phase of loan processing. You have submitted your loan request and your lender has underwritten and approved it. Nevertheless, before you can call the house your own, you must complete one last step: The mortgage closing.