House Closing Checkpoints Part 2: Everything You Need to Know Before Closing on Your New Home

House Closing Checkpoints Part 2: Everything You Need to Know Before Closing on Your New Home Featured Image
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In Part 1 of “Housing Closing Checkpoints”, we discussed the importance of preparing for the last stage in your homebuyer’s journey, to ensure your closing goes as smoothly as possible. Now that you have a good checklist, you’ll also want to count the costs associated with closing on your home.

In Part 2, we focus on providing some more helpful tips during the closing process.

Checkpoint #2: Count your closing costs

The next checkpoint on your home journey can be a surprise for many: the amount you pay to close on your home. All that paperwork has a fee associated with it.

Typical closing costs amount to approximately 3-5% of the property purchase price and often include:

  • Closing fee
  • Lender’s Title Insurance
  • Title search
  • Wire or courier fees
  • Document recording fees
  • State tax

Your lender will provide you with a “closing disclosure” and “loan estimate” prior to closing. Take time to review the itemized costs and especially the monthly mortgage payment.

Checkpoint #3: Closing day expectations

It’s your big day! And the last step in your home buying journey. Keep things from getting overwhelming by setting the right expectations.

  • Bring the right things
    Make sure you bring your checkbook to pay any remaining costs as noted in your “closing disclosure,” as well as your photo ID and a marriage certificate if you want both names on the title and deed. Don’t forget to bring any outstanding documents for the title company or mortgage loan officer.
  • Know what’s going to happen
    While it’s going to be exciting, it’s also going to be a little tedious. Get ready to sign a lot of papers, like the settlement statement, the mortgage note, and the mortgage or deed of trust. During the closing, the seller will sign and transfer property ownership, and the title company will register the new deed in your name. Once the paperwork has been completed, you’ll be given the new keys to your home and you can pop the champagne!

Close faster with Dime

Dime Community Bank’s team of mortgage experts will guide you through the process and get you in your new home faster than anyone else.

Ready to get started on your journey to home ownership? Let’s get started.

Visit or call 631-768-1500.

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