What is the form number for the Closing Disclosure?

What is the form number for the Closing Disclosure?

• A. H24
• B. H25
• C. H26
• D. H27

Answer: (B)

The Closing Disclosure is an important document in the home buying process, as it provides details about the final terms of the loan, including the costs associated with obtaining the mortgage. The specific form number for the Closing Disclosure is H25. This form must be provided to borrowers at least three business days before the closing of the loan. Its purpose is to ensure that borrowers understand all the financial aspects of their loan agreement, including the total costs of the mortgage, the interest rate, and any fees involved. Being familiar with the correct form number is crucial for mortgage loan officers to ensure compliance with legal requirements and to facilitate clear communication with clients. Understanding the importance of the Closing Disclosure also reinforces its role in protecting consumers by promoting transparency in the lending process.

The Closing Disclosure is an important document in the home buying process, as it provides details about the final terms of the loan, including the costs associated with obtaining the mortgage. The specific form number for the Closing Disclosure is H25. This form must be provided to borrowers at least three business days before the closing of the loan. Its purpose is to ensure that borrowers understand all the financial aspects of their loan agreement, including the total costs of the mortgage, the interest rate, and any fees involved.

Being familiar with the correct form number is crucial for mortgage loan officers to ensure compliance with legal requirements and to facilitate clear communication with clients. Understanding the importance of the Closing Disclosure also reinforces its role in protecting consumers by promoting transparency in the lending process.