A Closing Disclosure is a form designed to help borrowers understand the fine details of their loan before they sign the bottom line. A lender must give you a Closing Disclosure at least three business days before you close on the mortgage. The three-day window gives you time to review the final terms and compare it to the Loan Estimate that you were previously given. It also allows you time to ask your lender questions before you go to the closing table.
A Closing Disclosure will include details regarding:
- Your interest rate
- Monthly payment
- Borrow amount
- Whether your loan is fixed or adjustable
- Overall cost of your mortgage
- Points being charged
- Fees you are responsible for
- Dollar amount needed at closing
As you can see, a Closing Disclosure lays out all of the critical terms of your loan and must be thoroughly reviewed.
When you choose a loan with Premier Mortgage Resources (PMR), we will send you a Closing Disclosure in advance of your closing date. This closing disclosure will be sent to you via DocuSign. If you have not opted to receive emails, then you will need to wet-sign this document in person, or send it to us via fax.
At PMR, our loan officers are there for you every step of the way and are ready to answer any questions or concerns you may have regarding your loan or Closing Disclosure.
Team Mandi loves helping people achieve the dream of homeownership and reach their individual financial goals. Let us help you get your dream home in Boise. For more info about the loan process, you can visit http://mypmrloan.com/loan-help/steps-to-homeownership.