What Is a Closing Disclosure?
A Closing Disclosure is a five-page form that US mortgage lenders must provide at least three business days before closing. It lists the final loan terms, projected payments, and all closing costs, so the borrower can review them and compare them with the earlier Loan Estimate before signing.
The Three-Day Rule
Certain changes, such as a higher APR beyond a set tolerance or a change in loan product, require a new three-day review period.
What to Check
Borrowers typically compare the interest rate, monthly payment, cash to close, and fees with the Loan Estimate.
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🔗 Related Terms
More Home Buying Terms
- Adjustable-Rate Mortgage (ARM)
- Appraisal Gap
- Assessed Value
- Bridge Loan
- Cash-Out Refinance
- Conventional Loan
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Last updated: September 29, 2026. This definition is for general educational purposes only. It is not financial, investment, tax, legal, or medical advice, and it does not recommend any product or course of action. For decisions about your own situation, consult a qualified professional.