Journey Stage · Clear to Close
Clear to Close
Understand Your Numbers. Close With Confidence.
Before you get the keys, you'll receive important documents, verify your funds, and prepare for signing day. This guide will walk you through every step so there are no surprises.
Education
Understanding the Closing Disclosure
Watch this video to understand what the Closing Disclosure is, how to read it, and what affects your final cash to close.
Understanding the Closing Disclosure
In This Video You'll Learn
- What the Closing Disclosure is
- How cash to close is calculated
- Why the final number can change
- What seller credits do
- What lender credits do
- How escrows work
- What to review before signing
Closing Disclosure Teaching Tool
Closing Disclosure Reconciliation
Enter the numbers from your Closing Disclosure to verify your Cash to Close is correct. This mirrors the Sources & Uses worksheet used by mortgage professionals.
Enter numbers directly from your Closing Disclosure.
Uses — Money Going Out
CD Reference: Line K.01
CD Reference: Bottom of Page 1
Sources — Money Coming In
CD Reference: Line L.02
CD Reference: Bottom of Page 1
CD Reference: Line L.01
Credits & Adjustments
CD Reference: Line L.05
Credit negotiated with the seller to reduce your costs.
CD Reference: Line L06 (Other Credits)
Credit provided by the buyer's real estate agent.
CD Reference: Line L.13
Seller's share of property taxes prorated to closing date.
CD Reference: Line L13 (Adjustments for Items Paid by Seller in Advance)
Seller-paid HOA adjustment credited to the borrower. Entered as a negative value (e.g. -$250) since it reduces Cash to Close.
CD Reference: Section I — Before Closing column
Prepaid items credited before closing (insurance, interest, etc.).
Enter your CD numbers to reconcile
Balance Visualization
How Cash To Close Is Calculated
The CD is a balance sheet
Uses = money going out. Sources = money coming in — including your loan, cash, credits, and prorations. When they balance, the Cash to Close is correct.
Credits reduce what you bring to closing
Seller credits, buyer agent credits, and prorations are all sources of funds. Each one lowers the cash you need to wire on closing day.
Zero difference = verified
When Total Sources exactly equals Total Uses, your CD is balanced and your Cash to Close is confirmed.
This tool is for educational purposes. Always verify your final figures with your lender and title company.
Important
Why Your Cash To Close May Change
It's normal for numbers to shift between your initial Loan Estimate and your final Closing Disclosure. Here's what causes it.
Property Taxes Changed
Tax estimates may change once title work is completed and final county figures are confirmed.
Insurance Premium Changed
Homeowners insurance affects escrow calculations — even small changes ripple into your cash to close.
Seller Credits Changed
Negotiations or repair requests can alter agreed-upon seller concessions right up to closing.
Loan Structure Changed
Different loan programs may require different reserves or escrows, changing your total funding needs.
Interest Rate Changed
Rate changes can impact lender credits and discount points, which directly affect cash to close.
Title Fees Changed
Final title and recording fees are confirmed late in the process and may differ from initial estimates.
Education
Understanding Sources & Uses
Every closing has a simple financial equation: money coming in (sources) must equal money going out (uses).
Sources — Where Money Comes From
- 1
Loan Proceeds
The mortgage amount funded by your lender on closing day.
- 2
Down Payment / Cash Contribution
Your personal equity contribution to the purchase.
- 3
Seller Credits
Concessions the seller agreed to pay — reduces your cash needed.
- 4
Lender Credits
Credits from your lender, often tied to your interest rate choice.
- 5
Earnest Money
Already paid — counted as a source since it's already in escrow.
Uses — Where Money Goes
- 1
Purchase Price
The full agreed sale price of the property.
- 2
Closing Costs
Origination fees, title, escrow, appraisal, recording, etc.
- 3
Escrow Reserves
Initial escrow deposit for future taxes and insurance.
- 4
Prepaid Interest
Prorated interest from closing day to the end of the month.
- 5
Homeowners Insurance
First year's premium often paid at closing.
- 6
Recording Fees
County fees to officially record the deed and mortgage.
Sources
Loan + Credits + Cash
Closing
All funds balance
Uses
Purchase + Costs
Checklist
Your Closing Week Checklist
Know what to do and when in the final days leading up to your closing appointment.
7 Days Before Closing
- Review your Closing Disclosure carefully
- Verify homeowners insurance is active
- Confirm the total funds you need to wire
3 Days Before Closing
- Schedule your wire transfer with your bank
- Review all final figures with your lender
- Confirm your signing appointment time and location
1 Day Before Closing
- Complete your final walkthrough of the property
- Prepare government-issued photo ID
- Verify wire instructions directly with your title company (call — never trust email alone)
Closing Day
- Sign your loan documents
- Funds are transferred and verified
- Ownership is recorded with the county
- Receive your keys 🎉
Critical Warning
Avoid These Last-Minute Mistakes
You've worked hard to get here. These mistakes can delay or kill your closing in the final days.
Do Not: Open new credit cards
New credit inquiries and accounts change your debt-to-income ratio and can trigger a re-underwrite.
Do Not: Buy furniture or appliances
Large purchases increase your debt and may show up in bank statements or credit checks before closing.
Do Not: Finance anything
Any new financing — car, equipment, store credit — can jeopardize your loan approval.
Do Not: Change jobs
Income structure changes require new verification and can delay or derail closing entirely.
Do Not: Move large sums of money without documentation
Large unexplained transfers or deposits trigger underwriting questions that can stall your file.
Do Not: Make large unexplained deposits
Every large deposit must be sourced and documented. Cash gifts need gift letters. All funds must be traceable.
Do Not: Miss existing payments
A late payment this close to closing could change your credit score and void your approval conditions.
Community
Real Homeownership Stories
Stories from real people who navigated the home buying journey — from first-time buyers to those who overcame real obstacles.
Charlene Freestone
Six Children, One Minivan, and a Wooden Box
At a child safety checkpoint in 2021, Charlene helped a family with six children in a seven-seat minivan. One child was on a secured wooden box. The family had daisy-chained lap extender belts through the outer car seats. Charlene and another technician spent over an hour arranging new seats, only to learn the mother was pregnant and needed room for a newborn. They had to start over completely. The experience became a career turning point.
Watch Their StoryCharlene Freestone
I'm Back, But This Time I'm Helping
Charlene's son was born with needs requiring surgeries. A nurse with child passenger safety training helped her family during the car seat oxygen test. Exactly 12 years later, Charlene began working with Intermountain at Utah Valley Hospital — on the exact anniversary of her son's discharge. Looking at her badge, she thought: 'I'm back, but this time I'm helping people here.'
Watch Their StoryCharlene Freestone
Grief Turned Into Safety Work
Charlene mentions a man in his 50s who became involved in child passenger safety after losing his daughter in a car accident. He used his grief constructively, becoming a volunteer for Zero Fatalities and eventually a certified CPST. He's also trilingual, making him an invaluable resource for families facing language barriers.
Watch Their StoryWisdom
Wisdom From the Community
"Don't think you're not the growth."
Mark Johnson
"Generic and counterfeit are not necessarily the same thing."
Charlene Freestone
"It's your home. It's not just something you're borrowing."
Kaylee Kendall
Still Have Questions?
Ask Mia, your homeownership coach
Need Help Reviewing Your Numbers?
If you have a Loan Estimate, Closing Disclosure, or questions about your cash to close, we'd be happy to walk through it with you.