Closing Disclosure
What is a Closing Disclosure? English and Spanish
The Closing Disclosure is a 5-page form with the final terms of the mortgage: interest rate, monthly payment, closing costs and the cash needed to close.
The 3-day rule
Federal rules require the borrower to receive it at least 3 business days before closing; certain changes restart the waiting period. Put that date on the timeline – it is a common reason closings slip.
Send it in Spanish
The same explanation for a Spanish-speaking buyer or seller – copy and send:
El “Closing Disclosure” es un documento de 5 páginas con los términos finales de su préstamo hipotecario: tasa de interés, pago mensual, costos de cierre y el dinero que debe llevar al cierre.
Calculate the deadlines: Real estate contract timeline calculator
General explanation, not legal advice and not a translation of the contract. The signed contract and the law of the state where the property is located govern.
Your clients get this in their language automatically
With ClosingCode every buyer and seller has a status page and updates in English or Spanish, built from the deadlines of their own contract.
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