What documents should I receive before closing on a mortgage loan?

Before closing on a mortgage, you can expect to receive documents required by law and contractual documents.

You can expect to receive various types of documents:

Documents required by law

These documents inform you of the key terms, provisions, and costs of your loan. They outline your key rights and responsibilities as a borrower and record the transaction between you and your lender.

These documents include:

The Loan Estimate is a form that lays out important information about the loan you applied for. The lender sends you a Loan Estimate within three business days of receiving your application. Visit our interactive sample Loan Estimate with tips and definitions.

The Closing Disclosure is a form that lists all final terms of the loan you’ve selected, final closing costs, and the details of who pays and who receives money at closing. Your lender sends you a Closing Disclosure at least three business days before closing.

The Notice of the Right to Rescind for loans not used to purchase a home, for example, a refinance or home equity line of credit. This notice informs you that you have three business days from the lender’s fulfilment of certain conditions to cancel your loan and provides a form for cancelling the loan.

The Initial Escrow Statement, which lists the estimated taxes, insurance premiums, and other charges the lender anticipates paying from your escrow account during the first year of your loan.