The Closing Disclosure is a five-page form showing the final terms and costs of your mortgage. Federal rules require that you receive it at least three business days before you sign your loan documents. That waiting period exists so you can compare the final numbers to your Loan Estimate and ask questions before you are at the signing table. Plan your closing date around it.
What the Closing Disclosure shows
It follows the same structure as the Loan Estimate, with final numbers:
- Page 1: loan terms, projected payments, costs at closing and cash to close.
- Page 2: every closing cost, by section, and who pays it: borrower, seller or others.
- Page 3: the cash to close calculation compared with the Loan Estimate, and a summary of the transaction.
- Page 4: loan disclosures, including escrow account details, assumption terms and late fees.
- Page 5: loan calculations, APR, contact information for the lender and settlement agent.
How to check it in ten minutes
- Loan amount, rate and monthly payment match what you agreed to and locked.
- Page 1 yes or no answers about whether the rate or payment can increase match your understanding.
- Page 3 "Calculating Cash to Close" table. Every line shows the Loan Estimate figure, the final figure, and whether it changed. Read every "Yes" in the "Did this change?" column and get an explanation.
- Seller credits, earnest money and any lender credit appear where they should.
- Your name, property address and loan program are right.
Compare it with your Loan Estimate using the rules in How to Read a Loan Estimate.
The three changes that restart the 3-day clock
Most corrections can be made without a new waiting period. Three cannot. If any of these happens after you receive the Closing Disclosure, a corrected disclosure is required and a new three-business-day period begins:
- The APR increases beyond a small tolerance.
- The loan product changes, for example from fixed to adjustable.
- A prepayment penalty is added.
That is why I lock terms and finalize the loan structure well before the disclosure goes out. Changing programs in the last week is one of the surest ways to miss a closing date.
What counts as a business day
For this rule, business days are all calendar days except Sundays and federal public holidays. Saturday counts. If the disclosure is mailed rather than delivered electronically or in person, it is treated as received a few days later, which can cost you time. Accept electronic delivery and open it the day it arrives.
How this fits the Arizona timeline
In a typical 30-day Arizona escrow, the Closing Disclosure needs to go out roughly a week before the closing date to leave room for signing and funding. Anything that delays the final approval delays the disclosure, which delays the closing. See Escrow Timeline in Arizona.
The fastest path is boring: get your conditions in early, do not change the loan, and do not open new credit before closing. See What Not to Do After You Apply for a Mortgage.
Why ask me
- I answer the question before I sell you anything. If renting, waiting or a different program is the better move, I will say so.
- Real numbers, not a calculator guess. I price your actual scenario, side by side, with the fees on the page.
- Every program under one roof. Conventional, FHA, VA, jumbo, and non-QM options like bank statement, DSCR and asset-based loans, so the program fits you instead of the other way around.
- You talk to the principal. Ricky Khamis is President of EPiQ Lending, NMLS #173141, lending in Arizona since 1999 and a 2025 Presidents Club Winner at CMG Home Loans. Direct line: (480) 999-9842.
EPiQ Lending is NMLS #1936984, at 7975 N. Hayden Road, Suite A-101 in Scottsdale. Verify all of it before you trust any of it: Ricky's EPiQ Lending profile, the Scottsdale branch, and the license itself at NMLS Consumer Access. Hold every lender to that standard, including us.
More plain-English answers in the Mortgage Education library.
Equal Housing Opportunity. This is general information, not a commitment to lend or an offer to extend credit. Program guidelines, eligibility requirements and documentation standards vary by investor and change over time. Rates, terms and program guidelines change and depend on credit approval, property appraisal and other qualifying factors. Not all applicants will qualify. This is not legal or tax advice; consult a qualified professional about your own situation.
Find out which program actually costs you less
FHA, conventional and jumbo price the same borrower very differently once the mortgage insurance is compared across the years you will own the home. Tell me the shape of your file and I will run them side by side.
Looking at a specific home? Send me the address and I will run the numbers: rickykhamis.com/analyze
