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DictionaryThe buying process
The Closing Disclosure is a required five-page form with the final details of the mortgage you selected: the loan terms, your monthly payment, every closing cost and how much cash you must bring on signing day. The lender must give it to you at least three business days before closing, so you can compare it with your Loan Estimate and ask about any change.
In Spanish it is
Declaración de Cierre
Also written as: CD
If an important number changes, the three-day period starts again. Keep it: you will need it for your taxes.
Three days before signing, Carmen receives her Closing Disclosure and notices a fee went up. She calls the lender before closing and they explain, or correct, the difference.
You will rarely see this word alone. These are the ones that show up with it on the same papers.
A HUD-approved housing counselor can walk you through it. Agencies usually charge little or nothing, many work in Spanish, and they do not sell you anything.
We sum up what these official sources say, in plain words. We add no rules they do not state; when a rule changes, the definition and its date change.
