where the borrower could have a say who you chose to assist you with the closing.Д«ox EВ вЂњTaxes and other Government FeesвЂќ includes the number of fees that you are paying for recording of the deed if your state requires transfer tax or the excise tax to be paid, you could find those in this box. These are the things like your closing attorney, title insurance, etc. Going with the lender, you did not have any option to shop for these fees or who they used to get these services from.Д«ox CВ includes the things that the borrower did shop for. These are things that are charged by the lender to process your loan transaction.Д«ox BВ will show the services the borrower did not shop for. This page is further divided into multiple sections.Д«ox AВ will let you know about your origination charges. Borrower-paid before the end could be things like appraisal fees, credit report fees, etc. Two areas are important in there, one is borrower-paid at closing, and another one is borrower-paid before the end. On the right side, you could also see the borrower paid column, and that is the one that you want to focus on. On the left of the page, you would come to know what is being paid and to whom. It could be tricky to read this page with multiple columns. This is why page two of the closing disclosure is significant. On this page, you get the break down of the mortgage closing costs, which are mentioned on page one.ДЇor example, if your closing cost were mentioned as $2500 on page one, here you would know exactly how they broke down those $2500, including who is being paid and what is it being paid for. These are essential details, and they are going to be calculated for you in much greater detail on page 2 and page 3 of the closing disclosure. One is the synopsis of your closing cost, and the second one is your cash to close. This section would include two components. On the bottom of the page, you would find the information about costs at closing. This section will give a detailed breakdown of your monthly payments like principal & interest, mortgage insurance, and estimated escrows and lets you know your monthly mortgage payment, including all the above components. The next section would show projected payments. It will show you the total loan amount, the interest rate, monthly principal, and interest amount if there are any prepayment penalties and balloon payments. However, in the closing disclosure, you would see the final numbers which you are receiving for your loan. Similar to a loan estimate which you might have received earlier from your lender, the closing disclosure would also display the same information. The second section includes the loan terms in detail. The third part, вЂњLoan Information,вЂќ shows Loan Term, Purpose, Product, Loan Type, and Loan ID. The second part says вЂњTransaction Information,вЂќ which shows information about borrowers, sellers, and lenders. First says вЂњClosing Information,вЂќ which shows the Date Issued, Closing Date, Disbursement Date, Settlement Agent, File Number, Property Address, and Sales Price. On the very top, the section is divided into three parts.

Closing disclosure form