Forgot User ID
405.235.3030 or 800.678.5363

A variety of accounts to suit your needs.

Open a WEOKIE account online and see why managing your finances couldn't be easier.

Open An Account Today


    WEOKIE: your one-stop-shop for everything homes!

    From finding the home of your dreams to financing it, closing the loan, and even insuring it... we want to make every step in your home-buying experience as easy and as affordable as possible.


      Lending a hand when you need it

      From auto loans to refinancing a mortgage, WEOKIE has the resources and tools to create a lending program tailored to your needs.


        We are here to help.

        At WEOKIE, our purpose is to build strong communities by supporting financial growth and well-being, one person at a time.

          6 min read

          Closing on a Mortgage: 101

          Featured Image

          Congratulations, you’re almost to the finish line to buy your new home! Closing on the house is the final step and is the day you become the legal owner of your new home. Here’s some tips on what to expect and how to prepare for the big day.

          What Should I Bring on Closing Day?

          To make sure everything goes according to plan, you’ll need to be sure to bring a few things to your closing appointment. Your title company representative and mortgage loan officer usually provide a checklist to make sure you are prepared. WEOKIE specifically requires:

          • A valid ID
          • Borrowers may want to bring the latest Closing Disclosure provided by the lender. This gives them a chance to compare any changes that may take place up to the day prior to closing.
          • A cashier’s check payable to the title company if funds are required to cover the down payment, closing costs, and escrows as applicable. (Some of these may also be built into the loan if you prefer.)


          What will closing day look like?

          On closing day you will review and sign documents but it’s not all that happens. The process is managed by your real estate agent or mortgage loan officer, with someone who specializes in handling real estate closing and preparing the correct documents and the loan will usually close at a title company.

          If you bring all the required documents for closing day, here’s what to expect:

          • You’ll pay any remaining closing costs, as listed in your Closing Disclosure.
          • The seller will sign documents to transfer property ownership.
          • You will sign…
            • Loan estimate information. This outlines your loan, terms, rates, and closing costs.
            • Closing Disclosure. This outlines the terms and costs of your mortgage.
            • Initial escrow statement. At closing, many buyers have to pay money for future taxes and insurance up front, this money sits in an escrow account during the first year of your mortgage until the mortgage company uses them to pay those bills.
            • Mortgage note. This document is your promise to repay your lender and has information on what the lender can do if you don’t pay.


          Before Closing Day

          Yes, there are a couple things you need to have completed before your closing day. The average process for closing on a house takes 41 days. That is if there are no delays with the closing process. In an article by Dave Ramsey, 32% of all transactions encounter some type of delay or hang-up before closing.

          Trulia lists some things that you can do before closing on your home which include…

          • Having a home inspection. As soon as your offer is accepted and you’re under contract to purchase your home, have a home inspector go through the house.
          • Renegotiate or have the seller fix problems.
          • Do a final walkthrough. Just before you go to your closing, do a final walkthrough of the property to make sure that anything that needed to be fixed, meets your expectations.
          • Transfer utilities to your name. Get in touch with the utility companies well in advance of your closing day. You don’t want to be in the dark on moving day.
          • Purchase homeowner’s insurance. Homeowner’s insurance protects your property against theft and damage caused by nature. And your lender will require it before closing. WEOKIE offers homeowner’s insurance through MemberHaven.

          Your mortgage lender will do the following:

          • Processing your loan. They will be reviewing your full application and making sure all of your financial information checks out. They may ask for additional documents during this time.
          • Review your home appraisal. Your home appraisal will confirm that the value of the home is not less than the amount of your loan.

          The documents will then be sent to the title company for closing.  

          Closing Costs

          Closing costs are the fees third parties charge when you finalize purchasing your home. These costs will include the home inspection bill, premium for homeowner’s insurance, appraisal fee, credit report charges, attorney expenses, and so on. Some of these fees will need to be paid before the actual closing day. Dave Ramsey states that on average, you’ll pay 3-4% of the purchase price of your home in closing fees. For example if your home costs $150,000, you might pay between $4,500 and $6,000 in closing costs.

          WEOKIE: your one-stop-shop for everything homes!

          When you’re ready, we have several services and resources to help you find a home, (HomeAdvantage offers cash rewards when you buy or sell a home using a group of highly skilled realtors.) We have multiple types of loans and we can even assist you with insurance for your home. We want to make every step in your home-buying experience as easy and as affordable as possible.

          Complete our
           online form, or give us a call today at (405) 235-3030 or 1-(800) 678-5363 to discuss your dream home goals.

          Related Posts

          5 Things You Need to Know Before Applying for a Home Loan

          Before you apply for a mortgage loan, there are some things you need to know. Whether you are buying a house for the first time or it has just been a...

          What You Need to Know About Mortgage Down Payments

          Buying a home is exciting, but some aspects are better than others. Right now, things are different, but safely buying a home is possible and we can...

          How to Choose a Mortgage Lender

          Buying a house is a life-changing decision!

          Benefits of a Credit Union Mortgage

          The mortgage process can be confusing, especially if you are a first-time home buyer. What’s the difference between using a bank or a credit union...