The Closing Disclosure arrives at least 3 business days before closing. Review it carefully — here’s what to look for.
Key Sections
- Page 1: Loan terms, projected payments, closing costs summary, cash to close
- Page 2: Itemized closing costs — lender fees, third-party services, prepaids, escrow
- Page 3: Cash to close comparison vs your Loan Estimate
There are many moving pieces when your home loan is being finalized. As your mortgage planner, I will prepare you for everything you need to know along the way and answer any questions that you may have. As we near your closing date (and the excitement for your big move builds up), my team will be working hard to make sure that you have everything you need for a smooth close.
Three business days before your scheduled closing, I will provide you with your initial Closing Disclosure documentation, also called the CD. The CD is a five-page document that will provide the facts in detail about your loan, including the fees and key terms associated with the closing. The numbers in the initial CD may change before your closing if anything still needs to be updated, but you will receive a Final CD with those changes.
You can view a sample Closing Disclosure online. Before receiving your own Closing Disclosure, it may be helpful to become familiarized with the new format. The Consumer Financial Protection Bureau houses an interactive sample here.
My job is to ready you in every way that I can. I am happy to review your Closing Disclosure and explain it all to you, and I am here to help you understand any terms or fees associated with your loan. Please call me today with any questions!
