Closing Disclosure vs. Loan Estimate: What Changed and Why It Matters
The Closing Disclosure is the final version of the costs and terms first outlined in the Loan Estimate. By law, buyers must receive it at least three business days before closing, giving time to review and flag discrepancies before signing anything at the closing table. Same format, different stage The Closing Disclosure intentionally mirrors the Loan Estimate's layout, which makes direct comparison easier. Loan terms, projected payments, and closing costs are laid out the same way, so a buyer can place both documents side by side and check for changes rather than starting a review from scratch. What's allowed to change, and by how much Regulations set limits on how much certain fees can increase between the Loan Estimate and Closing Disclosure: Fees the lender doesn't allow the buyer to shop for , and the lender's own origination charges, generally cannot increase at all from the original estimate. Fees for third-party services the buyer can shop for , if t...