Short Answer
Your Closing Disclosure is a five-page form that itemizes the final terms of your loan. Page one shows the loan amount, interest rate, monthly payment, and closing costs. Page two breaks down your closing costs by category. Page three shows your cash to close and how the funds are distributed. Page four summarizes the transaction. Page five includes disclosures about late payments, escrow, and other loan details. Compare every line to your Loan Estimate to spot any changes.
The Closing Disclosure is designed to be transparent, but it can feel overwhelming. Start on page one, which shows the loan terms, including the loan amount, interest rate, and monthly principal and interest payment. Check that the interest rate and loan type match what you agreed to. Page two lists all closing costs, broken into loan costs (origination fees, points, appraisal, credit report) and other costs (title insurance, recording fees, taxes, prepaid items). Compare each fee to your Loan Estimate. If a fee increased by more than 10%, the lender must provide an explanation. Page three shows your cash to close, including your down payment, closing costs, and any credits from the seller or lender. Page four is a summary of the transaction showing the purchase price, total closing costs, and how much the seller receives. Page five includes disclosures about escrow, late payment policies, and other loan details. If anything looks different from what you expected, ask your lender or agent before closing.
Bob's Advice
Redfin Senior Agent · AI Certified Agent
I review every Closing Disclosure with my clients before closing day. There are a lot of numbers on those pages, and it is easy to miss something. I look for changes in fees, interest rate, and cash to close. If something does not look right, we have time to fix it. Do not sign anything at closing that you have not reviewed in advance. Let us go through it together and make sure everything is accurate.
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