Which document indicates the final terms of a mortgage loan agreement?

The closing disclosure is the document that indicates the final terms of a mortgage loan agreement. It provides a detailed summary of the loan terms, including the interest rate, monthly payment amounts, and other costs associated with the loan. This document must be provided to the borrower three days before closing, allowing the borrower to review and understand all the financial aspects and terms of the loan before finalizing the agreement.

The loan estimate is an important document as well; it gives borrowers an estimate of the loan terms and costs at the outset of the mortgage application process, but it does not reflect the final terms after all fees and requirements have been finalized.

The promissory note is a legal document that outlines the promise of the borrower to repay the loan. While it includes the borrower's obligation to pay back the loan amount and details about the loan terms, it does not encompass all details related to the closing costs or the total transaction.

The mortgage note specifies the details of the loan secured by the property itself, particularly regarding the security interest created in favor of the lender. However, it is not as comprehensive as the closing disclosure, which consolidates all the figures regarding the costs and fees involved in the transaction. Therefore, the closing disclosure is the key document for understanding the