Your Closing Disclosure: What to Check and What Can Delay Signing

Your Closing Disclosure is the place to reconcile the mortgage you selected with the transaction you're about to sign. Read it when it arrives. Acknowledging receipt doesn't mean every number is beyond question, and receiving the form doesn't automatically mean underwriting is finished.

The best review identifies differences early enough for the lender and settlement agent to explain or correct them before the appointment.

Start with the actual loan obligation

Check the borrower names, property, loan amount, product, term and note rate. Compare them with the selected Loan Estimate and written lock. Confirm principal and interest, mortgage insurance and any adjustable payment features.

If the loan amount increased, ask whether expenses were financed and whether that matches your decision. If the rate changed, ask for the specific reason and the relevant lock terms. Don't let the discussion stop at the monthly total.

Then review the estimates for taxes and homeowners insurance. On a fixed rate mortgage, principal and interest can stay fixed while escrow expenses change later. The initial total payment isn't a guarantee that property bills will remain unchanged.

Reconcile the closing money separately

Confirm that earnest money, seller contributions, lender credits and charges already paid appear in the correct places. Review the amount still due rather than adding the down payment to the displayed cash to close a second time.

Hypothetical example: a buyer expects $40,000 of down payment and $14,000 of closing expenses, with a $6,000 seller credit and $8,000 already paid as earnest money. Ignoring other adjustments, the remaining amount is $40,000.

If the form instead shows $46,000, first check whether the seller credit is missing. If it shows $48,000, check whether the deposit is missing. Several real adjustments can affect the amount, so request a reconciliation rather than assuming either example proves an error.

Cash to close explains the full budget. Earnest money verification covers the deposit's separate underwriting treatment.

Understand when the three day clock starts

For mortgages subject to the TRID Closing Disclosure rule, the consumer generally must receive the initial disclosure at least three business days before consummation. Receipt matters, not just when someone says the document was sent. Delivery method and evidence of receipt can affect the earliest permitted signing date.

For this waiting period, business days generally include Saturdays and exclude Sundays and federal legal public holidays. Ask the lender to calculate the date for your delivery method and actual calendar. Don't plan a move around a casual count of weekday names.

Consummation is the point the borrower becomes contractually obligated under applicable law. It shouldn't be casually equated with when the moving truck arrives or when all funds are released.

Most corrections don't automatically restart the wait

Federal rules identify three restart categories: an APR that becomes inaccurate under the regulation, inaccurate loan product information, or the addition of a prepayment penalty. A corrected disclosure involving one of those categories generally requires a new three business day waiting period.

Other changes generally can be disclosed at or before consummation without restarting that period. That doesn't mean every changed charge is permissible or that underwriting can't be delayed. It means the new waiting period is a separate regulatory question.

Not every small rate or fee change makes APR inaccurate under the legal tolerances. Let the lender's compliance team determine the regulatory treatment, and ask for the explanation if the closing date moves.

Review the charges without assuming they're all interchangeable

Compare origination charges, discount points and lender credits with the selected offer. Then review services and government charges. Some estimate changes are subject to specific disclosure tolerance rules; others can vary for legitimate reasons. The category and facts matter.

A larger escrow deposit can reflect timing or a revised tax estimate. A new point charge is a different issue. Ask what changed, why it changed and how the lender is treating the difference.

If you don't recognize a provider or service, ask before paying it. A small unfamiliar charge deserves an explanation just as a large one does.

Keep the disclosure and wire instructions separate

The cash to close amount doesn't authenticate the destination account for your wire. A criminal can copy a real amount into false instructions. Verify the payment method and account through a trusted contact using independently confirmed contact information.

If the amount changes, obtain the corrected figures from the actual lender or settlement agent. Don't let an urgent email become the only source for either the number or the bank account.

Resolve an issue before the signing appointment

Send the precise discrepancy, the earlier document and the supporting contract or lock information. Ask who is correcting it and whether the correction affects timing. Keep the revised version with your records.

The review is complete when the terms, credits and remaining cash can be explained, the required waiting period is satisfied and the closing team confirms the next steps. A signature should confirm an understood transaction.