Which document is required to detail the closing costs on home mortgages?

The required document to detail the closing costs on home mortgages is the Closing Disclosure. This document is essential in the home-buying process, as it provides a comprehensive breakdown of all fees and costs associated with the mortgage, including loan terms, monthly payments, and required closing costs. The Closing Disclosure must be provided to the borrower at least three business days before closing, which allows them to review and understand the financial obligations they are committing to.

While the Loan Estimate offers an overview of the expected costs and terms when applying for a mortgage, it is not the final, legally required document that outlines the final closing costs. RESPA regulations indeed govern various disclosures related to real estate transactions, but they do not serve as a document detailing specific costs. The Property Deed is a legal document that transfers ownership of the property but does not include the closing cost details needed by borrowers.