Once you’ve decided to move forward with the purchase of your home and have funding in place, you are ready to shop for the closing agent who gathers all the legal documents, closes the loan and handles the money involved in your purchase.
During the closing, or settlement, you will sign many documents. Some key documents that you will sign include:

1. Closing Disclosure: This form contains the terms and costs of your transaction. By law, your lender must provide the Closing Disclosure to you three days before your closing.

2. Promissory note: This document is your promise to repay the loan (mortgage) to your lender. The note provides details regarding your loan, including the amount you owe, the interest rate of the mortgage loan, the dates when the payments are to be made, the length of time for repayment and the where the payments are to be sent. The note also explains the consequences of failing to make your monthly mortgage payments.

3. Deed of trust: This document, which may also be called a Mortgage, transfers legal ownership of the property with the condition that the lender may foreclose on your home if you fail to repay your mortgage. This document restates the basic information included in the Promissory Note, as well as explains your responsibilities and rights as a borrower.

F1RST FUNDING as your Escrow Agent will temporarily hold money, paperwork, or other assets for a transaction on behalf of the transacting parties. Once the transaction has been properly funded with good, verifiable funds, all documents have been signed by the parties, and any appropriate documents are recorded with the City/Town or County as applicable, F1RST FUNDING will then release the funds to the seller as the final step to closing the transaction.