Closing disclosure
A five-page federal form the lender must send the buyer at least three business days before closing. It shows the final loan terms and all closing costs so the buyer can compare against the loan estimate.
Your Room opens on going under contract and closing, with the offer and everything before it already ticked.
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See how it worksWhere this comes up in a sale, and what follows
- Settle repairs (comes before)
Part 1 of 4
Why a seller cares
It is the buyer's final numbers, and federal rules require the lender to deliver it at least three business days before closing. It is why a financed closing rarely moves earlier at the last minute.
Part 2 of 4
A simple example
Closing is Friday. The buyer's Closing Disclosure has to be in their hands by Tuesday. If a number changes Wednesday, the clock can restart.
| What happens | What it does to Friday |
|---|---|
| The CD goes out Tuesday and nothing changes | Friday holds |
| A closing cost changes Wednesday | Usually a corrected CD, no new wait |
| The rate or the loan product changes Wednesday | A new three-day wait; Friday moves |
Three business days between the CD and closing, and only a few changes reset them.
Part 3 of 4
What people get wrong
That the Closing Disclosure is the seller's document. The seller gets a settlement statement; the CD is the buyer's loan paperwork, and it is what sets the three-day wait.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · read against CFPB: the Closing Disclosure · how we research and check what we publish
In your Room, this word explains itself where it appears.
Your Room defines closing disclosure in the step you meet it in, beside the document or the date it belongs to. Free to set up, with an agent or on your own.
Organize my saleFree to set up. Pay once when you list: $89 or $189. 7-day refund.