A Closing Disclosure is a five-page legal document that details the final terms of the mortgage loan youre about to borrow. It is the last document you will receive before you close on your home loan. The Closing Disclosure includes information about your loan terms, projected monthly payments, and how much you will pay in fees and other costs to get your mortgage (closing costs). The lender is required to give you the Closing Disclosure at least three business days before you close on the mortgage loan. This three-day window allows you time to compare your final terms and costs to those estimated in the Loan Estimate that you previously received from the lender. The three days also give you time to ask your lender any questions before you go to the closing table.

The Closing Disclosure is a legally-required document that provides final details of your loan. It is a final accounting of the dollars and cents for you to review before you sign your final mortgage paperwork at your closing. Once you’ve reviewed and approved your Closing Disclosure, you’re ready to complete the mortgage process, close your loan, and get the keys to your home or finish your refinance.

Key takeaways about Closing Disclosure include:

• It is a five-page legal document that details the final terms of the mortgage loan youre about to borrow.
• It includes information about your loan terms, projected monthly payments, and how much you will pay in fees and other costs to get your mortgage (closing costs).
• The lender is required to give you the Closing Disclosure at least three business days before you close on the mortgage loan.
• The three-day window allows you time to compare your final terms and costs to those estimated in the Loan Estimate that you previously received from the lender.
• The Closing Disclosure is a final accounting of the dollars and cents for you to review before you sign your final mortgage paperwork at your closing.
• Once you’ve reviewed and approved your Closing Disclosure, you’re ready to complete the mortgage process, close your loan, and get the keys to your home or finish your refinance.