Finally, you’re in your new home and with you come a multitude of documents that require either safe storage or a toss in the waste basket.
The most important documents you should keep:
- HUD-1 Settlement Statement (keep original copy) – Needed for income tax purposes if you paid points. Itemizes all costs associated with the closing.
- Truth in Lending Statement – Itemizes the terms of your mortgage loan, unpaid principal balance, mortgage payments, and annual percentage rate.
- Mortgage and Note – Monthly payment terms.
- Deed – Transfers ownership to you. Contains legal description of the property.
- Affidavits – Binding statements regarding the property between the buyer and the seller.
- Addendums, Amendments, or Riders (if any) – anything that alters or amends the original purchase contract such as requests for repair, seller disclosures, home inspection, pest inspection, home warranty
- Insurance Policies – Proof of hazard insurance on the home.