What is a closing disclosure form?
Once your loan has been approved and the settlement company/closing attorney has processed your documentation, they will prepare a Closing Disclosure form. This is your final itemized breakdown for the purchase of the home and will include all costs including down payment, taxes, loan amount, and all other miscellaneous items.
You should compare this form against your Good Faith Estimate from your loan company. There are going to be some differences as the Good Faith Estimate is used to estimate values for taxes. However, the other important terms should match up. You will want to especially double-check the interest rate points, and any miscellaneous expenses that loan companies charge. These should not change.
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