What Is the Closing Disclosure — and How Do You Read It Before Your Florida Closing?

The Closing Disclosure is the single most important document a mortgage borrower receives before signing closing papers. It lists every loan term, every fee, and the exact cash required to close — and federal law gives you at least three business days to review it before you can sit down at the settlement table. Most buyers flip straight to the last page for the bottom line. That is a mistake.

A line-by-line review takes about 20 minutes and can catch duplicate fees, misquoted rates, and errors in your name or property address before they become problems at the closing table. Here is how to read it.

What Is the Closing Disclosure?

The Closing Disclosure — sometimes called the "CD" — is a five-page federal form required under the TILA-RESPA Integrated Disclosure rule, known in the industry as TRID. It replaced the old HUD-1 Settlement Statement and Truth-in-Lending disclosure in 2015. Your lender prepares the Closing Disclosure and is legally responsible for its accuracy, but the title company provides most of the underlying data: title charges, recording fees, transfer taxes, and prepaid items that the lender uses to populate the form.

The Closing Disclosure applies only to mortgage transactions. If you are paying cash, the title company prepares a Settlement Statement instead.

When Do You Receive the Closing Disclosure in Florida?

Under federal TRID rules, the lender must deliver the Closing Disclosure at least three business days before consummation — the date you sign. Saturday counts as a business day; Sundays and federal holidays do not. For mailed disclosures, the law assumes delivery three additional days after mailing, so the practical lead time stretches to six business days.

Most lenders today deliver the Closing Disclosure electronically. When you acknowledge receipt in the lender's portal, the three-day clock starts immediately. If you are scheduled to close on a Thursday, expect the Closing Disclosure no later than Monday.

What Does Page One Tell You?

Page one is the summary. It shows three things: your loan terms, your projected monthly payments, and your costs at closing. Start here and verify:

• Loan amount and interest rate — these must match what you locked with your lender; any discrepancy requires an explanation
• Whether the rate can increase — for adjustable-rate mortgages, confirm the caps and adjustment frequency match what you agreed to
• Projected monthly payment — this includes principal, interest, estimated taxes, and insurance; compare it to the number your lender quoted you
• Cash to close — the bottom-line number; you will verify the full calculation on page three

How Do You Read the Loan Costs Section?

Page two breaks down every fee. Section A covers origination charges — everything your lender charges to make the loan: origination fee, discount points, and underwriting. These fees cannot increase from your Loan Estimate unless you changed your loan terms after application.

Section B lists services you could not shop for: appraisal, credit report, flood determination. Section C lists services you could shop for — primarily title services. In Florida, the title insurance premium in Section C is set by promulgated (state-mandated) rates and should match the quote you received earlier. According to the CFPB, the total of Section B and C fees cannot increase by more than 10 percent from the Loan Estimate without a valid change-of-circumstance.

What Are the "Other Costs" on the Closing Disclosure?

Section E covers taxes and government fees: Florida documentary stamp taxes on the deed, mortgage taxes, recording fees for the deed and mortgage, and any intangible tax on the loan. These are set by Florida statute and county fee schedules — they are not negotiable and should closely match the Loan Estimate.

Section F covers prepaids: the first year of homeowner's insurance, mortgage interest prepaid from the closing date through month-end, and any prepaid property taxes. Section G is your initial escrow payment at closing— the upfront deposit into the escrow account for future tax and insurance payments. These amounts can change between the Loan Estimate and the Closing Disclosure because they depend on actual insurance quotes and current tax assessments.

Section H covers other costs: home warranties, HOA capital contributions, and association transfer fees. In Florida, HOA estoppel fees and transfer fees frequently appear here, and their amounts are set by the individual association through the estoppel letter process.

What Is the Cash to Close Calculation?

Page three has the Calculating Cash to Close table. It starts with total closing costs, then adjusts for your down payment, any seller credits, lender credits, and deposits already paid — primarily your earnest money. The final figure is exactly how much you need to bring to closing by wire or certified funds.

Florida title companies are required to follow CFPB guidance prohibiting personal checks above a threshold amount. Most require wired funds or a cashier's check for any amount over $1,000. Verify the wire instructions directly by phone with your title company — never rely solely on emailed instructions, as wire fraud targeting closings is a serious problem in Florida. Read our guide to wire safety.

What Should You Double-Check Before Your Signing Appointment?

Before you sit down at the closing table, confirm these five items against your Closing Disclosure:

1. Name and vesting: Your name must match your government-issued ID exactly, including middle initials. Vesting — how title is held — must match what you and your attorney or title company agreed on.
2. Property address and parcel ID: Compare the address on the Closing Disclosure to the purchase contract. Title has been cleared for a specific legal description; confirm it is the right property.
3. Interest rate and loan amount: These must match the rate lock confirmation from your lender. A discrepancy is a red flag.
4. Seller credits: Any credits negotiated in the contract — repair credits, closing cost assistance — must appear on the Closing Disclosure. If they are missing, the closing should not proceed until the document is corrected.
5. Prepaid interest calculation: Verify the number of days from closing through month-end multiplied by the daily rate equals the prepaid interest shown. It is a quick check that occasionally surfaces arithmetic errors.

Who Prepares the Closing Disclosure — and How Does the Title Company Fit In?

The lender is legally responsible for the Closing Disclosure, but in practice the title company provides the data that fills most of it. We send the lender a closing fee sheet with exact amounts for title insurance, settlement fees, recording fees, and transfer taxes. The lender enters those numbers and issues the final form.

At Coastal Collective Title, we coordinate closings across all of Florida — from Escambia County in the Panhandle to Miami-Dade in the south, and from Collier County on the Gulf Coast to Brevard County on the Space Coast. Recording fees, doc stamp calculations, and local assessment procedures differ by county, and our team tracks every variation. When a lender sends us a draft Closing Disclosure for review, we verify every figure in our section before the document goes to the buyer.

Lenders who are unfamiliar with Florida-specific costs — doc stamps on the deed, intangible tax on the mortgage, county-level recording fee schedules — routinely populate the Closing Disclosure with incorrect numbers. Catching those errors before the three-day clock runs is one of the most practical services a knowledgeable title company provides. Reach us at 813-422-1328 with any questions.

Lori LaCoppola

Owner & Managing Partner

Lori founded Coastal Collective Title to deliver a premium, relationship-first closing experience across Florida. With deep title industry expertise, she oversees every transaction with precision and personal attention.

813-544-8626lori@coastalcollectivetitle.com