Buyer's Settlement Forms

Fixed Rate Note (Multi State, prepared by the Lender)

The Fixed Rate Note ("Note") is your personal guarantee to the Lender that you will repay the loan.  It also outlines the repayment terms.

View Note

FNMA Uniform Mortgage (PA, prepared by the Lender)

The FNMA Uniform Mortgage ("Mortgage") is the Lender's security instrument.  The Mortgage gets recorded (along with the Deed) with the county in which the property is located and creates a lien against the property.  Once the loan is paid in full, the Lender removes the lien from the property.

View Mortgage

**Important to Know**

Anyone in title (listed on the Deed) to the property must sign the Mortgage; however, depending upon your Lender's requirements, it might not be necessary for all property owners to be guarantors on the Note.

The Borrower's Closing Disclosure (prepared jointly by Lender and Title Company)

The Closing Disclosure ("CD") contains all the closing costs, your total monthly mortgage payment (including real estate taxes and home owner's insurance if applicable) and adjustments for items prepaid by the seller such as real estate taxes and municipal sewer fees.

View Closing Disclosure

**Important to Know**

Your lender is required to provide you with a copy of the CD 3 days prior to closing.

Deed (Prepared by Title Company)

The Deed is a document signed by the seller conveying the property to the new owner (Buyer).  The Deed gets recorded along with the Mortgage (if applicable) in the county in which the property is located and is a matter of public record.

View Deed

**Important to Know**

There are several ways to take title (types of Tenancy) when purchasing real estate in Pennsylvania.

Following your settlement, your title company will record the new deed and new mortgage with your local municipality and once those documents are recorded your title company will issue your owner’s title policy. The owner’s policy along with the recorded deed will then be mailed to you. Save your marked up title commitment from settlement, as this serves as evidence of your title insurance until you receive the actual owner’s policy in the mail.

Example of Marked Up Title