Closing disclosure
The final five-page statement of your loan terms and closing costs, which the lender must give you at least three business days before closing.
What does closing disclosure mean?
The Closing Disclosure is the final accounting of your mortgage, and the law requires you to receive it at least three business days before closing so you can review it. Compare it against your original Loan Estimate: the rate, monthly payment and cash to close should match closely, and the three-day window exists so you can question any surprise before you sign.
Frequently asked
What is the difference between a Loan Estimate and a Closing Disclosure?
The Loan Estimate comes right after you apply and lets you shop; the Closing Disclosure is the final version you receive at least three business days before closing.
Compare them — the rate, payment and cash to close should match closely, and any surprise is worth questioning.
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