Definition
This is the official document your lender sends you showing exactly what you're borrowing, at what interest rate, what your monthly payment is, and what you'll pay at closing. You'll receive it at least 3 days before closing.
Where you’ll meet it
What happens at closing, and what do I bring?
See it in Buying my first home · Step 6About this term
The Closing Disclosure must be provided at least 3 days before closing. It details the final loan amount, interest rate, monthly payment, closing costs (broken down item-by-item), property taxes, insurance, HOA fees, and who pays each item.
Pro Tip
Request the Closing Disclosure as early as possible and review it carefully. Compare it to your initial Loan Estimate and ask your lender about any changes.
Example
The Closing Disclosure shows your $300,000 loan at 6.5%, $2,100 in closing costs paid by seller, and $1,896 monthly payment (principal and interest).