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The Closing Disclosure is a key document provided to borrowers in a real estate transaction that outlines the final terms and costs of their mortgage. It includes details such as the loan amount, interest rate, monthly payments, and a breakdown of closing costs. Borrowers receive this document at least three days before closing, allowing them time to review the information and ask questions. Its purpose is to ensure transparency and help borrowers understand the financial implications of their mortgage agreement.

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1w ago

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