The review in three checks
Check first: Start with terms that could change risk
Inspect closely: Explain every material cost difference
Resolve before acting: Verify cash and payment instructions independently
Open the review: Confirm the loan you intended to close
Check the loan amount, term, product, interest rate, prepayment penalty, balloon feature and whether the rate can adjust. Review projected principal and interest, mortgage insurance, estimated escrow and total payment. A familiar monthly number should not distract from an incorrect term or feature that changes long-term risk.
Inspect the details: Reconcile costs line by line
Place the final disclosure beside the accepted Loan Estimate. Mark changes in origination charges, points, services, taxes, prepaids, escrow funding, seller credits and lender credits. Ask for the reason and supporting document for each material difference. Confirm that deposits and amounts already paid reduce cash to close in the correct places.
Resolve the gaps: Use the review period actively
Read the note, security instrument, escrow statement and other contractual documents as well as the disclosure. Ask for corrections in writing and obtain an updated form when required. Verify wire instructions using a known phone number or in-person process; never rely solely on changed instructions delivered by an unexpected message.
Complete the review without skipping evidence
- Do rate, term and loan features match the selected offer?
- Are projected payment and escrow items complete?
- Can every changed fee or credit be explained?
- Have cash amount and transfer instructions been independently verified?
Leave an audit trail
Keep the final Loan Estimate, Closing Disclosure, contract amendments, written explanations and signed loan documents together. Note unresolved questions and their resolution before signing. Preserve proof of the verified transfer and final settlement statement for future servicing, tax and sale questions.
Primary source: CFPB Closing Disclosure explainer.
Reconcile the final disclosure to the chosen estimate
Keep the selected Loan Estimate beside the Closing Disclosure. Compare the loan amount, interest rate, monthly principal and interest, prepayment penalty or balloon terms, lender fees, credits and cash to close. Some amounts can change for valid reasons, but every material difference should have a named explanation.
| Review area | Document check | Question if different |
|---|---|---|
| Loan terms | Rate, term and payment features | Did the product or lock change? |
| Closing costs | Origination and required services | Which tolerance or changed circumstance applies? |
| Cash to close | Deposit, credits, payoff and adjustments | What changed since the estimate? |
Stop on unresolved identity or wire problems
Verify names, property address and settlement contact details. Confirm wire instructions through a trusted known channel, not a reply to a last-minute email. Raise discrepancies early enough for the lender or settlement professional to investigate; do not treat signing day as the first review.
Record the resolution, not only the question
For each discrepancy, write the person contacted, explanation, corrected page and time received. Keep the final signed disclosure with the selected Loan Estimate. That record makes the post-closing file usable if a fee, credit or payment later appears different from what was explained.
Resolve the neighboring checks: Carry unresolved document questions into the next review instead of treating a blank as a favorable answer. Use the same loan amount, holding period and cash assumptions when moving from closing costs and cash-to-close totals to an escrow-shortage payment plan; otherwise two apparently different choices may only reflect different inputs. See the mortgage closing and servicing guides for the complete sequence.
Complete and document the review
Check each item against the current document and keep unresolved points visible.
Finish the checklist with evidence
Review the Closing Disclosure as a reconciliation, not a ceremonial form. Check loan terms, projected payments, every changed cost, credits and final cash against the selected Loan Estimate and purchase contract while there is still time to ask questions.
Build your mortgage comparison brief →This guide provides general education. Examples are illustrative, not market quotes. Verify current product terms and obtain individualized advice when needed.