Fillable Form Closing Disclosure

A Closing Disclosure is a five-page form that provides final details about the mortgage loan you have selected. It includes the loan terms, your projected monthly payments, and how much you will pay in fees and other costs to get your mortgage.

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• What is Closing Disclosure
• How to fill out Closing Disclosure
• FAQs about Closing Disclosure

How to Get and Edit Closing Disclosure template

Fill and sign Closing Disclosure online and download in PDF.

What is a Closing Disclosure?

A closing disclosure is a form that provides all the information regarding the type of mortgage loan you have selected. Included in this document are your loan terms, your monthly payments, and how much you will pay in fees and other costs to get your mortgage.

How do I fill out a Closing Disclosure?

Get a copy of Closing Disclosure template in PDF format.

• Total closing costs
• Closing costs paid before closing
• Closing costs financed (paid from your loan amount)
• Down payments / funds from borrower
• Deposit
• Funds for borrower
• Seller credits
• And adjustments and other credits

You will be asked to total all of these costs at the cash to close segment of the table.

10. Summaries of Transactions
This section is split into two halves, the Borrower’s Transaction and the Seller’s Transaction.

a. Borrower’s Transaction
The first segment, (K.), of this half are the payments due from the borrower at closing where you will be asked to indicate the sale price of property, sale price of any property included in sale, closing costs paid at closing, as well as any additional adjustments. You will also be asked to indicate any city / town taxes, county taxes, and assessments.

The next segment, (L.) of this half are the payments already paid by or on behalf of the borrower at closing. These include the deposit, loan amount, existing loan(s) assumed or taken subject to, and seller credit, as well as other credits and any adjustments.

The final segment of this half is the calculation. You will be asked to indicate the total due from the borrower at closing, which is the first section, or (K). Afterward, you will be asked to indicate the total already paid by or on behalf of the borrower at closing, which is the total in the second section, or (L). Check also the corresponding “To” and “From Borrower” box.

b. Seller’s Transaction
The first segment, (M.) of this half are the payments due to the seller at closing. This includes the sale price of the property, sale price of any personal property included in the sale, and any corresponding adjustments.

The next segment, (N.), will include all the costs due from the seller at closing. These include the:

• Excess deposits
• Closing costs paid at closing (J.)
• Existing loan(s) assumed or taken subject to
• Payoff of first mortgage loan
• Seller credit
• Any adjustments

Finally, you will be asked to calculate all of the totals, such as the total amount due to the seller at closing (M.) and the total amount due from the seller at closing (N.) Check also the corresponding “To” and “From Seller” box.

11. Loan Disclosures
This next section will cover any loan disclosures that may or may not apply to the transaction.

Under “Assumption”, you will be asked if the lender will be allowing the buyer to sell or transfer the property to another person. Please check the box corresponding to your answer.

Under “Demand Feature”, you will be asked if your loan has the demand feature which will require early repayment of the loan. Once again, check the box corresponding to your answer.

Under “Late Payment”, your lender will charge a late fee if a specified amount if the payment is more than a certain number of days late.

Under “Negative Amortization”, you are asked to choose one of the following options:

• The buyer is scheduled to make monthly payments that do not pay all of the interest due that month. As a result, the buyer’s loan amount will increase (negatively amortize) and their loan amount will likely be larger than your original loan amount. Increases in their loan amount lower the equity the buyer has in this property.
• The buyer may have monthly payments that do not pay all of the interest due that month. As a result, the buyer’s loan amount will increase (negatively amortize) and their loan amount will likely be larger than the original loan amount. Increases in their loan amount lower the equity the buyer has in this property.
• Do not have a negative amortization feature

Check the box corresponding to your choice.

Under “Partial Payments”, you are asked to choose one of the following options:
The lender:

• May accept payments that are less than the amount due and apply them to the loan
• May hold partial payments in a separate account until the rest of the loan is paid, and then will apply the full payment to the loan
• Does not accept any partial payments

Please check the box corresponding to your answer.

Under “Security Interest”, input the security interest noting that the buyer may lose this property if the payments to the seller or any other obligations are not met.

Under “Escrow Account”, check the corresponding box if the buyer:

• Will have an escrow account
  • If this box is checked, please indicate any escrowed and non-escrowed costs as well as any initial escrow payments and monthly escrow payments.
  • If this box is checked, please indicate whether

  12. Loan Calculations
  Under this section, you will be asked to indicate the calculations that the buyer has to pay for the loan. Specifically, you must indicate:

  • The total of payments, which is the total of all payments including principal, interest, mortgage, insurance, and loan costs, as scheduled.
  • The finance charge, which is the dollar amount the loan will cost the buyer
  • The amount financed, which is the loan amount available after paying your upfront finance charge.
  • The annual percentage rate(APR), or the costs expressed over the loan term as a rate.
  • The total interest percentage (TIP), or the total amount of interest that the buyer will pay over the loan term as a percentage of the loan amount.

  13. Other Disclosures
  This section contains mostly other disclosures that you have to read, such as those pertaining to appraisal, contract details, refinance, and tax deductions.

  Under “Liability and Foreclosure”, check the corresponds to the answer. If the lender has foreclosed the property and the foreclosure does not cover the amount of unpaid balance on this loan, then:

  • State law may protect the buyer from liability for this unpaid balance.
  • State law does not protect you from liability for the unpaid balance.

  14. Contact Information
  This section contains a table for the contact information of the lender, mortgage broker, real estate broker (buyer), real estate broker (seller), and the settlement agent.

  For each person listed, you must provide the:

  • Name
  • Address
  • NMLS ID
  • License ID
  • Contact
  • Contact NMLS ID
  • Contact License ID
  • Email
  • And Phone number.

  15. Confirm Receipt
  To confirm this closing disclosure, the applicant and the co-applicant have to put their name and signature on the form, as well as the date signed.

  After everything is done, congratulations, you have just finished filling out a closing disclosure.