What Am I Actually Signing at Closing? 4 Documents Every Georgia Buyer Should Understand
The promissory note, the security deed, the Closing Disclosure, and your affidavits: what each one means, and two questions to ask before you sign.
What Every Georgia Buyer Should Know
For more than 20 years, I’ve conducted closings and refinances. Over and over, buyers and borrowers came to the table without knowing what to expect, and signed documents no one had explained to them. This series is that explanation.
A stack of paper slides across the table. Sign here. Initial here. Sign here again.
So what do you sign at closing? You don’t have to memorize every page. But you should understand four documents before you walk in.
At a Georgia closing, buyers who finance their purchase sign four core documents: the promissory note, the security deed, the Closing Disclosure, and a set of affidavits. The note is your promise to repay. The security deed gives your lender legal title as security until the loan is paid, and you receive the Closing Disclosure at least three business days before closing so you can review it first.
What is a promissory note?
The promissory note is your written promise to repay the loan. It sets the amount you borrowed, the interest rate, your monthly payment, when payments are due, and what happens if a payment is late. The Consumer Financial Protection Bureau (CFPB) describes it simply as “your promise to repay the mortgage loan to your lender.”
The note is a personal promise. It stands on its own, separate from the security deed that ties the loan to your home.
Ask before you sign: – Do the loan amount, rate, and payment match my Closing Disclosure? – Is there a penalty if I pay the loan off early?
What is a Georgia security deed, and why isn’t it called a mortgage?
In Georgia, your home loan is secured by a security deed, also called a deed to secure debt, rather than a traditional mortgage. Under Georgia law, it passes legal title to your lender as security until the loan is paid. You still own your home, live in it, and control it. When you pay the loan off, the security deed is canceled.
Georgia’s statute, O.C.G.A. § 44-14-60, says a deed to secure debt “shall pass the title of the property to the grantee” [Real-Talk: the lender holds title as collateral, not as your landlord].
Most Georgia security deeds also include a power of sale. That clause is why Georgia foreclosures generally happen without a lawsuit, after required notice. If you ever fall behind, our post on loan modifications in Georgia explains the timelines.
Why there are two witnesses. Georgia requires your security deed to be signed in front of two witnesses: an official witness, usually a notary, and a second, unofficial witness. Both should be present when you sign, because a deed that isn’t properly witnessed may not be recordable. That surprises buyers who plan to sign away from the closing office, so if you’ll be signing somewhere else, ask your closing attorney how both witnesses will be arranged.
Ask before you sign: – Who is my lender, and who will service the loan? – What happens if I miss a payment?
What is the Closing Disclosure, and when do I get it?
The Closing Disclosure is a federal form that lists your final loan terms and every closing cost. You must receive it at least three business days before closing. That window exists so you can compare it with your Loan Estimate and ask about anything that changed before you sit down to sign.
The CFPB’s advice is direct: “Take time to review the Closing Disclosure,” and “ask about anything you don’t understand.” Our post on Georgia closing costs walks through the fees line by line.
Ask before you sign: – What changed from my Loan Estimate, and why? – How much do I need to bring, and how will I send it safely?
On that last question: before you wire any money, call your closing attorney’s office at a number you already know, never one from an email. Wire fraud targets closings, and AI is making fake emails and voices easier to produce. Here’s how seller impersonation and wire fraud work and the checks that stop them.
What affidavits should I expect to sign?
Affidavits are sworn statements. Your lender and closing attorney rely on them, so every statement has to be true. Packages vary by lender, but here are a few you should expect to see at a Georgia closing:
- Occupancy affidavit: confirms whether you will live in the home as your primary residence.
- Name affidavit: confirms the different ways your name appears on documents all refer to you.
- Compliance agreement: your agreement to sign corrected documents if a clerical error turns up later.
Because you sign these under oath, read each one. If something isn’t accurate today, say so before you sign.
Ask before you sign: – Is every statement true for me today? – What happens if my plans change after closing?
Will I sign a “Waiver of Borrower’s Rights”?
Possibly, but fewer Georgia buyers do today. For decades, Georgia closing packages included a separate form in which borrowers waived rights to notice and a court hearing before a lender used the power of sale. In 2021, the CFPB found that a waiver like this was deceptive. Many closing packages now use an “acknowledgement of rights” instead.
Here’s how it developed:
- The origin. Federal court challenges in the 1970s questioned whether foreclosure under Georgia’s power of sale, without prior notice and a hearing, satisfied due process. Courts recognized that borrowers could waive those rights by contract, and lenders responded by adding a separate waiver form to closing packages.
- The federal finding. In its Summer 2021 Supervisory Highlights, the CFPB described a waiver in a security deed rider “in use in one state” covering notice and judicial hearing rights before a nonjudicial foreclosure. It concluded that “a reasonable consumer could understand the provision to waive the consumer’s right to sue” over certain federal loss-mitigation violations in a nonjudicial foreclosure, and found its use deceptive under the Consumer Financial Protection Act.
- The industry shift. Closing document providers began removing the waiver. At least one major provider, Asurity, replaced it in 2023 with a “Borrower’s Acknowledgement of Rights” that removes the waiver provisions.
- Where Georgia stands now. The power of sale comes from the security deed you sign, not from the separate waiver. Georgia’s Title Standard 14.9, revised after the CFPB’s finding, now says the absence of an executed waiver “shall not invalidate the security deed nor prevent the exercise of an otherwise proper power of sale.” In other words, title examiners will not treat a missing waiver as a defect.
If your package still includes an old-style waiver, it is usually a holdover from an outdated template. Ask your closing attorney to explain what it says before you sign.
So, what do you sign at closing, in one table?
These four carry the most weight for a buyer who is financing. Save this table and bring your questions to your closing attorney before closing day, not at the table.
| Document | What it does | Ask before you sign |
|---|---|---|
| Promissory note | Your promise to repay the loan | Do the amount, rate, and payment match my Closing Disclosure? |
| Security deed | Gives the lender legal title as security until the loan is paid | What happens if I miss a payment? |
| Closing Disclosure | Final loan terms and costs, received 3 business days before closing | What changed from my Loan Estimate, and why? |
| Affidavits | Sworn statements the lender relies on | Is every statement true for me today? |
What you won’t sign: the warranty deed. The seller signs it, and it transfers ownership to you. If you’re curious what can go wrong with that transfer, see our post on common title issues in Georgia. For the full day-of sequence, see what happens on closing day in Georgia.
Frequently asked questions
What documents do you sign at closing?
If you’re financing, you’ll sign the promissory note, the security deed, and a set of affidavits and lender forms. You’ll also sign or acknowledge the Closing Disclosure. The seller signs the deed that transfers ownership to you.
Can I review my closing documents before closing?
Yes. You receive the Closing Disclosure at least three business days before closing. You can also ask your closing attorney or lender for copies of the note and security deed ahead of time, so your questions are answered before you sit down to sign.
What is the difference between a mortgage and a security deed in Georgia?
Both secure your loan with your home. A Georgia security deed passes legal title to the lender as security until the loan is paid, and it usually includes a power of sale. You still own, live in, and control your home.
Why do I need two witnesses to sign my security deed?
Georgia requires a security deed to be signed in front of an official witness, usually a notary, and a second, unofficial witness. Both should be present when you sign. If you’re signing away from your closing attorney’s office, ask how both witnesses will be arranged.
What happens if my Closing Disclosure changes?
Ask your lender what changed and why. Certain changes, such as an APR increase beyond the allowed tolerance, a change in loan product, or an added prepayment penalty, require a new three-business-day review period before closing.
What is the bottom line?
You don’t need to read every page at the closing table. Understand the note, the security deed, the Closing Disclosure, and your affidavits before you get there, ask your questions early, and sign only what’s true.
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This article is general information, not legal advice, and does not create an attorney-client relationship. Closing packages vary by lender and transaction. Talk with your closing attorney about the documents in your own closing.
