What is Loan closing?
A loan closing is the last step in the process of buying and financing a home or property. This involves the signing of legal documents and distributing of funds. This is usually done on one day commonly called the closing date. It is when the mortgage loan transaction is completed by signing all the necessary documents. Some of the representatives that may be in attendance at the closing include your real estate agent, your title company, your attorney (depending on which state), and a lender representative. See closing or settlement.