From the moment you begin your homebuying journey to the point of submitting your offer, you’ll encounter a variety of important documents—from agreements and contracts to the forms required for your home loan. Understanding these materials and knowing what to expect can make the process smoother and help you feel more confident as you move toward closing on your new home. Plus, when you work with a Vylla Home agent, you’ll have access to our dedicated Homeownership Specialist team, who serve as your single point of contact throughout the entire process.
Here’s a breakdown of the forms you’ll come across and what they mean:
Pre-purchase documents
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Buyer representation agreement
This is the formal agreement you’ll sign when you choose a real estate agent to represent you. It establishes a professional relationship and outlines the duties of your agent, marking the start of your collaboration.
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Residential loan application
As part of applying for a mortgage, you’ll need to fill out this form, which collects detailed information about your financial situation. Expect to provide data on your income, debt, assets, household expenses and other personal details. This helps your lender assess how much you can afford and what loan you qualify for.
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Purchase agreement
The purchase agreement outlines the terms of the sale for the home you're purchasing. This includes the price, contingencies, closing date and commissions. This document serves as the foundation for securing financing and finalizing the sale.
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Loan estimate
After your mortgage application is submitted, your lender will issue a Loan Estimate. This document provides a detailed breakdown of your mortgage terms, including the interest rate, monthly payments, and estimated closing costs, giving you a clear picture of what you’re agreeing to.
Closing documents you’ll sign
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Closing disclosure
A few days before closing, your lender will send you the Closing Disclosure, a detailed summary of all costs associated with your loan. This includes the loan terms, closing costs, fees and credits. You should review this carefully to ensure everything matches the original Loan Estimate.
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Promissory note
The promissory note spells out the terms of your loan, including the repayment schedule, where payments will be sent and the consequences of missing payments. By signing this note, you’re legally agreeing to repay the loan according to these terms.
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May Sign a deed of trust
This document secures the loan by giving the lender a security interest in your property. It explains the lender's rights to the property in case you default on the loan, including the ability to foreclose.
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Deed
Once the seller signs the deed, it officially transfers ownership of the home to you. While you’ll take possession of the property, the title will be held by a third-party trustee until your mortgage is paid in full.
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Affidavits and declarations
These documents affirm that all the information you’ve provided is true and accurate. They may also include statements about any repairs made to the property before closing and your intention to occupy the home as your primary residence.
A final word on paperwork
There’s no getting around it, buying a home involves a lot of paperwork. But don’t worry if it seems overwhelming at times. The good news is that you don’t have to navigate it alone. If you’re ever unsure about any of the forms or documents, ask your real estate agent or lender involved in the process for clarification. They’re there to guide you through it.