315 . 735. 2222
315 . 735. 2222

What to Keep From Your Home Closing


The Real Estate Settlement Procedures Act (RESPA) Statement, also called a HUD 1 statement, itemizes all the costs associated with the closing. You’ll need this for income tax purposes and when you sell the home.

The Truth in Lending  Statement summarizes the terms of your mortgage loan.

The promissory note spells out the agreed upon repayment terms i.e. interest rate, monthly payment, and length of the loan.

The mortgage is the lien on your property recorded with your deed and remains in effect until you have paid the note.

The deed transfers ownership of the property to you. It contains a description of the parcel that you actually bought. This will go on record at the County. You can get a copy there as well.

Affidavits - swearing to various statements by either party. For example, the sellers will often sign an affidavit stating that they have not incurred any liens on the property.

Appraisal - This contains a lot of particular information about your property.

Property Inspection Report if you had a home inspection


Owners' Title Insurance Policy if you got an additional one for yourself (the one the bank requires usually protects the mortgage balance owed to them).

Purchase and Sale Contract and Addenda. For example, if you buy a condominium, you may have an addendum that outlines the condo association’s rules and restrictions.

Insurance policies provide a record and proof of your coverage.

Also, a copy of your STAR tax relief application. You want to make sure you get School Tax relief on your owner occupied home.