A CD is the final paperwork you receive in the mortgage process just before signing the official loan docs.
The CD is issued at least 3 days before you sign and it is a final accounting of your loan’s;
👉🏽 interest rate,
👉🏽monthly mortgage payment
👉🏽and total of all payments and finance charges.
You will want to compare the Closing Disclosure with the most recent loan estimate to see if anything substantial has changed.
You can look at an example over at the Consumer Financial Protection Bureau
Questions about loan process or anything real estate? Shoot me a DM or drop me a comment below!
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