Funding and closing the loan
For a loan, closing is the final signing of legal documents, while funding is the actual transfer of money from the lender. In a real estate transaction, these steps complete the loan and formally transfer property ownership. 

The closing process
Before the final closing meeting, you must receive a Closing Disclosure (CD) from your lender at least three business days beforehand. This document details the final loan terms, projected monthly payments, and closing costs.

 During closing, you will meet with the settlement agent—an attorney or a title company representative—to review and sign the final paperwork. 
 

Key activities during closing include:
 

Signing documents: This includes the promissory note, where you promise to repay the mortgage, and the mortgage or deed of trust, which secures the property as collateral.
Paying closing costs: You will pay the down payment and other fees via a cashier's check or wire transfer. Personal checks are often not accepted for large sums.

Transferring the title: The title to the property is legally transferred from the seller to you.
Recording the deed: The settlement agent records the new deed and mortgage with the county.