Definition
This TRID rule requires your lender to deliver the Closing Disclosure at least 3 business days before closing, giving you time to review closing costs and ask questions before the big day.
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The three-day rule (part of TRID) protects borrowers by ensuring they have adequate time to review the final closing costs and raise questions before closing. The Closing Disclosure must be delivered at least 3 business days before closing. If the lender is making changes to the Closing Disclosure less than 3 days before closing, the closing date may need to be postponed to comply with the requirement. This rule has resulted in some closings being delayed when issues arise late.
Pro Tip
Request your Closing Disclosure early—even if the three-day rule only requires 3 days, extra time helps.
Example
The closing was scheduled for April 15. The Closing Disclosure was delivered on April 10, providing 5 calendar days (3+ business days) for review before closing.