What is the difference between the Loan Estimate and the Closing Disclosure?
The Loan Estimate is provided within three business days of your loan application. It shows your estimated interest rate, monthly payment, closing costs, and loan terms. It's designed so you can compare offers from different lenders. The Closing Disclosure is the final statement you receive at least three business days before closing. It shows the actual final numbers, including any changes from the estimate. You should compare the two documents closely to make sure fees haven't increased unexpectedly. Some costs can change, others are limited by law. The specifics depend on your situation and a licensed lender should confirm any differences, and Jon can connect you with one.
Specifics depend on your situation and should be confirmed with a licensed lender. Jon can connect you with one: text (623) 826-0888.
More on closing costs and the closing process
- What are closing costs and how much are they in Arizona?
- How long does closing take after going under contract?
- What happens on closing day and when do I get the keys?
- What is a final walk-through and what if something is wrong?
- Can I close remotely or do I have to sign in person?
- What are prepaid items at closing?
Meet Jon Hegreness
Jon Hegreness
REALTOR / Associate Broker · Howe Realty
AZ License BR540940000
Full-time Phoenix North Valley REALTOR and Associate Broker with 24 years in Arizona residential real estate. A negotiator and problem solver who works the way you would want a friend in the business to work: direct, on your side, and steady through the parts that get complicated.