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Step #10 Loan Docs

Congratulations.  You are now able to sign your final loan documents and are very close to getting your keys to your new home.

What to expect:

The title company will give you a call to schedule your loan signing.  This signing is the final step before  you get your keys to your new home.  There are a few things to keep in mind during this step:

  • How long is the signing process?
    • The signing can take up to an hour depending on how many questions you might have during the process. 
  • When do I take possession?
    • After your loan signing the title company will then be waiting on the funds to close from both the Lender (Megastar) and the borrower (if applicable)  Typically the title company can record your new deed 24 – 48 hours after funds have been received
  • How much money do I give to the title company?
    • You would have received the final dollar amount needed (If applicable) in step number 9.  Also the title officer when scheduling the appointment will give the exact amount needed from the borrower when scheduling the appointment.  
  • Do I wire my money or get a cashiers check?
    • Typically it is better to wire the funds from your bank account instead of getting a cashiers check.  If you get a cashiers check the title company is required to hold the check overnight.  This can cause a delay in the recording of your deed.

Next Step:

After signing your final loan documents you will now just have to patiently wait to get your keys from your realtor.  Thanks you so much for giving Megastar the opportunity to fund your loan and help you fulfill your Dreams of Home Ownership.  

Possible Delays:

  • Title Officer Schedule
    • Sometimes the title officers schedule is booked for a day or two out.  This can normally happen at the end of the month.  The title officer is notary that helps sign the loan documents.