A Closing Disclosure is a document that shows the final terms and costs of your mortgage. It is typically provided near the end of the loan process before closing.
What the Closing Disclosure includes
- Final loan amount
- Interest rate
- Monthly payment
- Closing costs
- Cash to close
- Loan terms
- Escrow details
- Taxes and other government fees
- Prepaid items
- Contact information for key parties
Why it matters
The Closing Disclosure helps borrowers confirm the final loan details before signing closing documents. It gives you an opportunity to review costs, payment, loan terms, and cash needed to close.
Still comparing home loan options?
What to compare against the Loan Estimate
- Loan amount
- Interest rate
- Monthly payment
- Closing costs
- Cash to close
- Origination charges
- Discount points
- Escrow amounts
- Prepaid taxes and insurance
Questions to ask before closing
- Has my rate changed?
- Did my closing costs change?
- Do I understand the cash to close?
- Are taxes and insurance included in escrow?
- Are there any fees I did not expect?
- Is the loan type correct?
- Is the property information correct?
Take time to review
Borrowers should read the Closing Disclosure carefully and ask questions before signing. If something looks different than expected, contact the lender or settlement agent for clarification.
Understand the numbers before you move forward.
Get StartedClosing details, timing, and required disclosures vary by transaction, lender, loan type, and applicable law. This article is for educational purposes only.