In plain English
Borrowers receive it before closing. A signing agent does not explain it but can point to where to sign.
Questions about numbers go to the lender.
Why it matters
The Closing Disclosure shows the final numbers, including how much cash you need. Surprises at the table can delay a closing if questions are not answered before the appointment.
Because the signing agent cannot explain the numbers, borrowers who review it early with their lender avoid a stalled signing.
Worked example
A borrower reads the Closing Disclosure, notes the cash needed at closing and asks the lender about one fee.
What to do
- Read it as soon as you receive it.
- Compare it with your earlier loan estimate.
- Call the lender about any fee or term you do not understand.
- Confirm the cash to close and how to pay it.
- Bring your copy to the signing in case you want to refer to it.
Common mistakes
- Waiting until the signing to read it can mean an unanswered question stops the appointment.
- Wiring funds based on an old number can cause a shortfall at closing.
- Expecting the signing agent to explain fees leads to delay because the agent must refer you to the lender.
Not the same as: Right of rescission
The Closing Disclosure lists final terms and costs, while the right of rescission gives certain borrowers a short window to cancel after signing. See Right of rescission.
Go deeper
- How to Read Your Closing Disclosure Page by Page: A practical page-by-page guide to the five-page Closing Disclosure: loan terms, costs, cash to close, and the items to compare against your Loan Estimate.
- What Buyers Sign at Closing: The Buyer Package: The documents a home buyer signs at closing: Closing Disclosure, note, mortgage, occupancy and escrow forms, and the few pages buyers most often misunderstand.
Related terms
- Commission: The official authority a state gives a person to act as a notary for a set term.
- Conflict of interest: A situation where the notary benefits from the transaction or is a party to it, making the notarization improper.
- Certified translation: A translation with a signed statement from the translator that it is complete and accurate.
Common questions
What is a closing disclosure?
A document that lists final loan terms and closing costs for a mortgage.
Can you give an example of closing disclosure?
A borrower reads the Closing Disclosure, notes the cash needed at closing and asks the lender about one fee.
What if the numbers changed since my loan estimate?
Ask your lender to explain the changes before signing.
Do I sign the Closing Disclosure at the table?
Often there is a signature to show receipt. The signing agent will show where, but questions about its content go to the lender.
General information, not legal advice. Rules vary by state and change; check with your state's commissioning office.