Often as a Mobile Notary when I am performing a loan signing, the signer has many important basic questions regarding their loan documents. The process of buying, selling, or refinancing a property can be very stressful for a lot of people. I am always happy as a Mobile Notary and Loan Signing Agent to guide the borrower or seller through the loan documents and assist in any way that I can to help the process be easier.

I thought I would write a blog to help assist and educate buyers and sellers on some fundamental documents in the loan signing package and some loan signing terms. Many of these documents require a notary and the loan signing terms below are often listed in almost all loan documents.

Loan Signing 101 – Basic Documents

Note– A note is simply a contract. This will state what the borrower is borrowing and show the interest rate of the loan, will state the payment amount and the term of the loan.

Interest Rate– This is what the borrower of the loan agrees to pay back the bank on the money that is borrowed. The higher the risk, the higher the rate. The lower the risk the lower the rate.

Property tax– These are taxes that are due to the county where the property is located. Most property taxes are due twice a year.

Deed– This very important document records the owner of the property. It always goes thorough the County Recorder’s Office and will always be notarized. You will also find other information on the Deed such as the lien amount, who is lending the money, the legal description of the property, and any rules and regulations that the property owner has to follow.

Grant Deed– This is used to sale or transfer real property from one person or entity to another person or entity. This is another important document that gets recorded at the County Recorder’s Office and will require notarization. The Grantor is the name of the person or entity transferring the property and the Grantee is the name of the person or entity that the property is being transferred to.