The closing is the last step in getting your mortgage and actually becoming the owner of your new home. You’ll probably see and sign more legal documents at your closing than at any other event in your life. You’ll have to pay a number of fees as well. These factors can make your closing confusing and a little overwhelming. Closing (or settlement) is the legal process of transferring ownership of a home from one person to another, and generally the purchaser receives a loan to finance the home purchase. Closing involves decisions that can save you money — or cost you money. Two issues can make closing seem complicated — the number of documents and the costs involved.