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Closing Disclosure [CD]

Closing Disclosure is the key closing document which provides information such as interest rate, monthly payments, and costs to close the loan.

In compliance with Truth in Lending Act-Real Estate Settlement Procedures Act “Know Before You Owe” rules, mortgage lenders are required to issue the closing disclosure with borrowers no later than 3 business days before they close on the loan.

See sample closing disclosure below:

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