Found 2 blog entries tagged as closing disclosure.

Real Estate Word of the Day: Closing Disclosure

The Closing Disclosure (CD) is a five-page form that provides final details about the mortgage loan you have selected. It includes the loan terms, your projected monthly payments, and how much you will pay in fees and other costs to get your mortgage (closing costs). This document is critical because it ensures transparency, allowing you to review all the terms and costs associated with your loan before you sign on the dotted line.

The CD is designed to give you a clear and accurate picture of your loan details. It ensures that there are no surprises at the closing table. By law, you must receive your Closing Disclosure at least three business days before your closing. This gives you time to review the…

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Real Estate Word of the Day: Disclosure

A closing disclosure (CD) is a comprehensive document provided to both the buyer and the seller shortly before the closing date of a real estate transaction. This document outlines the final details of the financial aspects of the deal, including the terms of the mortgage loan and any other costs associated with the transaction. Essentially, it's a summary of the final financial agreement between the parties involved in the sale or purchase of a property.


Key Components of a Closing Disclosure
  • Loan Terms: The CD will include detailed information about the loan, including the loan amount, interest rate, loan type, and loan term. This section ensures that both parties are on the same page regarding the…

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