Closing Disclosure
Also known as CD
A required five-page form detailing your final loan terms and closing costs, sent before closing.
In plain English
Your lender must provide the Closing Disclosure at least three business days before closing, listing your final interest rate, monthly payment, and all closing costs, so you can compare it against your original Loan Estimate.
Always compare your Closing Disclosure line-by-line against your Loan Estimate, unexplained increases in fees are worth questioning before you sign.
Ask your lender exactly when they expect to send your Closing Disclosure, and what would restart the three-business-day clock (like a changed APR or a new prepayment penalty), so a last-minute change doesn't catch you off guard.
Buyers sometimes treat the three-day review period as a formality to skim through. It exists specifically so you have time to compare it line-by-line against your Loan Estimate and flag unexplained fee increases before you're locked in.
Where you'll run into it
Guides and tools on TheBuyingPath that cover closing disclosure in context.
Related terms
Sources
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