1. Closing Disclosure (CD)
The Closing outlines the final terms of the loan, including interest rate, monthly payments, closing costs, escrow details, and cash‑to‑close. Borrowers review and sign this document to confirm they understand the financial terms of their transaction.
2. Promissory Note (The Note)
The Note is the borrower’s legal promise to repay the loan. It specifies the loan amount, interest rate, payment schedule, and consequences of late or missed payments. This is one of the most important documents in any loan package.
3. Mortgage / Deed of Trust
This document secures the property as collateral for the loan. It does not transfer ownership — instead, it gives the lender the right to take action if the borrower fails to meet loan obligations. The Mortgage or Deed of Trust is typically notarized.
This document secures the property as collateral for the loan. It does not transfer ownership — instead, it gives the lender the right to take action if the borrower fails to meet loan obligations. The Mortgage or Deed of Trust is typically notarized.
This document secures the property as collateral for the loan. It does not transfer ownership — instead, it gives the lender the right to take action if the borrower fails to meet loan obligations. The Mortgage or Deed of Trust is typically notarized.
4. Affidavits & Declarations Affidavits
Affidavits are sworn statements used to verify identity, occupancy, financial information, or other required details. Common examples include:
* Occupancy Affidavit
* Identity Affidavit
* Compliance Agreement
* Errors & Omissions Statement
These documents often require notarization to confirm the signer’s oath and authenticity.
5. Title Documents
Title documents confirm legal ownership of the property and ensure there are no outstanding claims or liens. These may include:
* Owner’s Title Insurance Policy
* Settlement Statement
* Title Search Report
* ALTA forms
Title documents protect both the borrower and the lender throughout the transaction.