Quick answer. Count three business days after the signing (or after the Closing Disclosure and the rescission notice were delivered, if later). Saturdays count; Sundays and federal legal public holidays don't. The right to cancel runs until midnight of the third day.
Count the rescission period
Enter a signing date to see the last day to cancel.
Funding note: the lender and the title or settlement company set the actual funding date. The "earliest likely funding day" here is only the first weekday after the period ends that isn't a federal holiday. Their schedule, wire cut-offs and any document issue can move it later.
How the count works
Under 12 CFR 1026.23(a)(3)(i), a borrower with the right to rescind may cancel until midnight of the third business day after the latest of three events: consummation (the signing), delivery of the notice of the right to rescind, or delivery of all material disclosures. Day one is the day after that event.
For rescission, 12 CFR 1026.2(a)(6) uses a stricter meaning of business day than the lender's office hours: all calendar days except Sundays and the legal public holidays in 5 U.S.C. 6103(a). That list has eleven holidays: New Year's Day, Martin Luther King Jr.'s Birthday, Washington's Birthday, Memorial Day, Juneteenth, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving and Christmas (5 U.S.C. 6103(a)). Inauguration Day is in a different subsection and isn't on it.
Holidays on a weekend
The CFPB's official commentary, comment 2(a)(6)-2, says that when a fixed-date holiday such as July 4 falls on a Saturday and is observed on the Friday before, the observed Friday is a business day for rescission. The calculator skips the holiday on its actual date only. The commentary's example is a Saturday holiday. When a holiday falls on a Sunday, the Sunday is skipped anyway, and we count the Monday it is observed on as a business day on the same reasoning. The CFPB's 2021 Juneteenth rule places June 19 in the same fixed-date group. Some lenders count more conservatively, and a lender may give a longer period, so follow the dates on the notice the borrower signs.
Funding waits for the period to end
Unless the right is waived for a bona fide personal financial emergency, 1026.23(c) says no money may be disbursed, other than in escrow, until the rescission period has expired and the creditor is reasonably satisfied the borrower hasn't rescinded. That's why refinances usually fund after the third business day.
When the right to cancel applies
- Usually yes: a refinance with a new lender, a home equity loan or line of credit, or another loan secured by the borrower's principal dwelling.
- No: a loan to buy or build the home, or a loan on a second home or investment property that isn't the principal dwelling.
- Partly: a refinance with the same lender is exempt, except for new money beyond the unpaid balance and the costs of the refinance.
Each person whose ownership interest is subject to the security interest has the right, even a spouse on title who isn't on the note. If the notice or the material disclosures were never delivered, the period can run much longer, up to three years. That's a question for the lender or an attorney, not a calculator.
Legal public holidays in 2026 and 2027
These are the days the calculator skips (on their actual dates):
- New Year's Day: Thursday, January 1, 2026
- Birthday of Martin Luther King, Jr.: Monday, January 19, 2026
- Washington's Birthday: Monday, February 16, 2026
- Memorial Day: Monday, May 25, 2026
- Juneteenth National Independence Day: Friday, June 19, 2026
- Independence Day: Saturday, July 4, 2026
- Labor Day: Monday, September 7, 2026
- Columbus Day: Monday, October 12, 2026
- Veterans Day: Wednesday, November 11, 2026
- Thanksgiving Day: Thursday, November 26, 2026
- Christmas Day: Friday, December 25, 2026
- New Year's Day: Friday, January 1, 2027
- Birthday of Martin Luther King, Jr.: Monday, January 18, 2027
- Washington's Birthday: Monday, February 15, 2027
- Memorial Day: Monday, May 31, 2027
- Juneteenth National Independence Day: Saturday, June 19, 2027
- Independence Day: Sunday, July 4, 2027
- Labor Day: Monday, September 6, 2027
- Columbus Day: Monday, October 11, 2027
- Veterans Day: Thursday, November 11, 2027
- Thanksgiving Day: Thursday, November 25, 2027
- Christmas Day: Saturday, December 25, 2027
For a signing agent, the dates on the Notice of Right to Cancel are normally filled in by the lender or title company. If they look wrong, don't change them. Call the contact on the signing order before the borrower signs.
Sources
- 12 CFR 1026.23, Right of rescission (CFPB)
- 12 CFR 1026.2(a)(6), Business day (CFPB)
- Official interpretation of 1026.2, comment 2(a)(6)-2 (CFPB)
- 5 U.S.C. 6103, Holidays (U.S. Code, govinfo)
- CFPB interpretive rule on Juneteenth and the business day definition (2021)
- CFPB: How long do I have to rescind?
General information checked November 2026 against the sources above, not legal advice. Your loan documents and your lender control the dates for your loan. The calculator runs in your browser, and nothing you enter is sent or saved.
Common questions
Does Saturday count as a business day for the right to cancel?
Yes. For rescission, Regulation Z counts every calendar day except Sundays and the federal legal public holidays listed in 5 U.S.C. 6103(a), so Saturdays count.
What if a holiday falls on a Saturday and is observed on Friday?
The CFPB's official commentary says the observed day (the Friday) is a business day for rescission. The Saturday holiday itself is skipped. The calculator follows that rule.
Does the three-day right to cancel apply to a home purchase?
Generally no. The rule covers certain loans secured by the borrower's principal dwelling, such as many refinances with a new lender and home equity lines. A loan to buy or build the home is exempt. The lender can confirm whether your loan has a rescission period.
When will my refinance fund?
Not before the rescission period ends. The lender and title or settlement company set the actual funding date, often the next business day or later, so ask them.
Related: Refinance signing and the right of rescission · Right of rescission (glossary) · Notary fees by state