Final Disclosure Statement

A Final Disclosure Statement is a detailed document provided to a borrower before closing a loan, typically a mortgage. It outlines the final terms and costs associated with the loan, including interest rates, monthly payments, closing costs, and other fees. This statement ensures transparency, allowing the borrower to review and understand the exact financial details before committing. It helps prevent surprises by clearly listing all costs and terms, promoting informed decision-making and compliance with lending regulations.